The Apostle Paul says that we can all prophesy - all refers to every believer, not just a special group of people. Now we are not all prophets, although some are called to that office. Yet, we all can prophesy and we can all benefit greatly from personal prophecy.
What is personal prophecy and how does it apply to your Christian walk? Simply, it is the unction of the Holy Spirit through a believer, over another person or situation. It is one of the many ways that God speaks to his children, and should be respected as such. Personal prophecy is given to encourage one another, for edification, and to help build up and release a persons' destiny!
Personal prophecy can also come in many forms, for instance some people flow and the words come out as if bubbling up from within. Others are more of a seer and will release prophetically what they see in the spirit realm, and then either interpret the visions, or will leave it for the person to interpret. Still yet many times personal prophecy will come forward in counseling and coaching someone.
Remember that we as believers see in part and hear in part, so we are not going to have a full revelation. Many times, the Lord will allow us to see just enough to encourage or correct us, and then lean deeper into his ways. Words of knowledge and words of wisdom are often released in such a setting, and this allows growth of the individual. Confirmation is also a big part of the prophetic encounter, as many times information will be spoken as a clue to what the Lord has already been speaking, or will be speaking very soon.
Also remember that the word of God tells us to judge every prophetic word, for we are all human and therefore we prophecy in faith, yet as humans can be led by the soul and flesh. So honor the word, judge the word, and seek confirmation.
Personal prophecy can be a great witness to your Christian walk... Bless You!