How to avoid concurrentModificationException

Code with exception

public static void main(String[] args) {
 
        List myList = new ArrayList();
 
        myList.add("1");
        myList.add("2");
        myList.add("3");
        myList.add("4");
        myList.add("5");
 
        Iterator it = myList.iterator();
        while(it.hasNext()){
            String value = it.next();
            if(value.equals("3")){
             myList.remove("3");
            }
        }
        System.out.println("List Size:"+myList.size());
}

Code without exception using Iterator

 public static void main(String[] args) {
 
        List myList = new ArrayList();
 
        myList.add("1");
        myList.add("2");
        myList.add("3");
        myList.add("4");
        myList.add("5");
 
        Iterator it = myList.iterator();
        while(it.hasNext()){
            String value = it.next();
            if(value.equals("3")){
             it.remove();
            }
        }
        System.out.println("List Size:"+myList.size());
}

Reference: http://www.javacodegeeks.com/2011/05/avoid-concurrentmodificationexception.html