This is simply to have a notebook and pen by you as you read and to jot your thoughts of that verse down. It can be simple or it can be fancy. Make it a part of you.
If you google "LDS Scripture Journals" you will get a long list of different ideas.
Here are what I created for me to use.
I printed them out double sided, put them into a binder (used my comb binding machine.)
You could use a small loose leaf binder
They are 1/2 a page or a full page landscape mode cut in half.
It can be as simple as 1 Nephi 1:1- Nephi respected his upbringing and parents
One of the best ones I have seen is located here. She is amazing on her journals and I wish my handwriting was half as good as hers .http://www.theredheadedhostess.com
I have seen several on www.Sugerdoodle.net
And of course Pinterst is loaded with ideas!
The best advice I can give is from a talk by Elder Oaks: ”Last year a church member sent me a suggestion that someone prepare a book containing all General Authority interpretations of all verses in the scriptures. I replied that I thought this was not a good idea…. What we are seeking to accomplish… is not to magnify the standing of the prophets but to elevate the spirituality of our rank and file members. Like Moses, we declare, ‘would God that all the Lord’s people were prophets, and that the Lord would put his spirit upon them!’ (Numbers 11:29). We encourage everyone to study the scriptures prayerfully and seek personal revelation to know the meaning for themselves.” (Elder Dallin H. Oaks, “Scripture Reading and Revelation”, BYU Studies Academy Meeting, January 29, 1993)