Pray without ceasing. - 1Thessalonians 5:17 Probably the most important thing that we can do pertaining to studying the Bible is to pray. It is God that reveals His Word to us by His Spirit. We need to seek his wisdom because we have no godly wisdom of our own. We need to seek His face and His righteousness in order to have the proper discernment of spiritual things. The Bible is the revelation of God Himself to us. We need to have God's help to understand Him. Prayer should be part of our life in ALL things.
Many cults and false religions have been started "using" the Bible because people did not have the Spirit of God or because they did not seek God for proper understanding. Many denominations and churches have drifted away from God for the same reasons.
The heart is deceitful above all things, and desperately wicked: who can know it? - Jeremiah 17:9 We don't even know how sinful and lost that we are. We need to be praying that God would be revealing Himself and His Word to us for His glory and not just so we can know more or impress people with our knowledge. We need to set aside pre-suppositions (pre-existing ideas that we may have about God). Ask God to reveal His truth to you as you study His Word.
Continue in prayer, and watch in the same with thanksgiving; Withal praying also for us, that God would open unto us a door of utterance, to speak the mystery of Christ, for which I am also in bonds: That I may make it manifest, as I ought to speak. - Colossians 2:2-4 Even the Apostle Paul, who wrote a good portion of the New Testament, prayed and asked for proper understanding. How much more do we need to pray.