From what I understand there are four steps:Lectio (reading): Choose a passage from Scripture to read, read the section of Scripture slowly, perhaps even out loud...repeatedly. One book I read suggested for 10 minutes, but to proceed as you wish.Meditatio(meditation): What phrase or key word stands out to you from the reading? What emotions does it invoke, how do you feel...think about the deeper meaning of the text. What is God trying to speak through His living word through the text?Oratio (talk) or prayer: Ask God to give you an understanding of the text, converse with God as to the meaning of what He is speaking to you and what you feel and think about it. Contemplatio (think, live): After realizing what it is that God has spoken to you...learning how to apply it to your life and living it out. This is only a VERY VERY brief writing of the basic concept. The book "Read, Think, Pray, Live" does an excellent job of explaining it. It seems if you take the proper approach, it could be a very good way of reading the Bible in a devotional manner.