It's common for people to take a single verse from the Bible and make a doctrine out of it. Putting a number in front of the verse doesn't make it a stand-alone, end-all statement. Context is important. We don't take single lines out of other books and use them in such a fashion. I wouldn't understand my Information Technology textbooks if I read them like that. Why use the Bible that way?
Consider what Greg Koukl has to say on this issue.
"The numbers in front of the sentences give the illusion the verses stand alone in their meaning. They were not in the originals, though. Numbers were added hundreds of years later. Chapter and verse breaks sometimes pop up in unfortunate places, separating relevant material that should be grouped together.
First, ignore the verse numbers and try to get the big picture. Then begin to narrow your focus. It's not very hard or time consuming. It takes only a few moments and a little observation of the text.
Begin with the broad context of the book. What type of literature is it history, poetry, proverb? What is the passage about in general? What idea is being developed?
Stand back from the verse and look for breaks in the narrative that identify major units of thought. Ask, "What in this paragraph or group of paragraphs gives any clue to the meaning of the verse?"
There's a reason this little exercise is so important. Words have different meanings in different contexts (that's what makes puns work). When we consider a verse in isolation, one meaning may occur to us. But how do we know it's the right one? Help won't come from the dictionary. Dictionaries only complicate the issue, giving us more choices, not fewer. Help must come from somewhere else close by: the surrounding paragraph.
With the larger context now in view, you can narrow your focus and speculate on the meaning of the verse itself. Sum it up in your own words.
Finally and this is critical see if your paraphrase makes sense when inserted in the passage. Does it dovetail naturally with the bigger picture?"
I found this video at STR place about reading passages in context.
John Macarthur gives things to avoid while studying the Bible.
"Don't make a point at the cost of proper interpretation . In other words, don't make the Bible say what you want it to say. That's like the preacher who proclaimed that women shouldn't wear their hair on top of their heads. His text was "Top Knot Come Down," supposedly from Matthew 24:17, which says, "Let him who is on the housetop not come down" (King James Version). Obviously that's not what the passage is about! Don't try to find verses to support a preconceived idea. I know if I try to make a sermon, I end up forcing the Bible to fit my sermon. But if I try to comprehend a passage, a message will flow out of the understanding that follows.
In 2 Corinthians 2:17, Paul says, "For we are not like many, peddling the word of God." The Greek word translated "peddling" is kapeleuo, which referred to selling something deceitfully in the marketplace--something that wasn't what it claimed to be. You must not force the Bible to illustrate your preconceived notions. Be careful not to interpret the Bible at the cost of its true meaning.
Avoid superficial Bible study . Unfortunately, some Bible studies consist of nothing more than person's saying, "I guess this verse means..." or "What does this verse mean to you?" Basically that's a pooling of ignorance--a lot of people sitting around telling what they don't know about the verse. To have a successful Bible study, someone has to study the passage beforehand to find out what it really means. Only then can you discuss it intelligently and apply it. Interpretation requires work. Don't take the easy way out and believe what everyone tells you the Bible says. Check the facts out yourself. Don't assume there are many interpretations of a biblical passage. There may be many applications, but there is only one true interpretation. God's Word is precise. It is not ambiguous. God has given us the ability to discover its meaning.
Don't spiritualize the text . The first sermon I ever preached was really bad. My text was, "The angel rolled the stone away" from Matthew 28. I entitled my sermon, "Rolling Away the Stones in Your Life." I talked about the stone of doubt, the stone of fear, and the stone of anger. Doubt, fear, and anger are all legitimate topics, but they have nothing to do with that verse! I call that "Little Bo Peep Preaching" because you don't need the Bible; you can use anything--even "Little Bo Peep."
Picture a preacher saying this: "Little Bo Peep has lost her sheep. All over the world people are lost. And can't tell where to find them. But they'll come home--ah, they'll come." Then you hear a tear-jerking story about sinners who came home "wagging their tails behind them!" Ridiculous? Yes, but unfortunately not too hard to imagine.
Many people tend to do that with the Old Testament. They turn it into a fairy tale with all kinds of hidden meanings--anything but what the text plainly states. Don't spiritualize the Bible. It deserves more respect."
Greg Koukl "Never read a bible verse"
John Macarthur "How to Study Your Bible"