The main point of this paragraph is that since you have received the awesome Christ exalted in the previous verses, we are now commanded to walk in Him (to live our daily lives under His Lordship, v. 6). This obedience saturated by thanksgiving is grounded in the foundation of faith which we were taught (v. 7). Negatively, we are not to get deceived by philosophy and empty deception (v. 8) in place of Christ who is awesome beyond description in who He is and in what He has accomplished (vv. 9-15)
Ὡς οὖν παρελάβετε τὸν Χριστὸν Ἰησοῦν τὸν κύριον,
Therefore, just as you received Christ Jesus the Lord (at your conversion),
ἐν αὐτῷ περιπατεῖτε,
so (continue to) walk in him,
(the reasons to continue walking IN HIM are because you have been) rooted (by God) (in Christ)
καὶ ἐποικοδομούμενοι ἐν αὐτῷ
and ( because you are now being) built up (by God) in [Christ]
καὶ βεβαιούμενοι τῇ πίστει
and ( because you are being) established (by God) in the faith,
just as you were taught (by Epaphras),
περισσεύοντες ἐν εὐχαριστίᾳ.
(the manner in which you are to continue to walk is by) abounding in thanksgiving.
Βλέπετε μή τις ὑμᾶς ἔσται ὁ συλαγωγῶν διὰ τῆς φιλοσοφίας καὶ κενῆς ἀπάτης
See to it that no one takes you captive by philosophy and empty deceit,
κατὰ τὴν παράδοσιν τῶν ἀνθρώπων,
( because this philosophy) accords with human tradition,
κατὰ τὰ στοιχεῖα τοῦ κόσμου
( and even more this philosophy) accords with the elemental spirits of the world,
καὶ οὐ κατὰ Χριστόν•
and (this philosophy does) not according to Christ.
ὅτι ἐν αὐτῷ κατοικεῖ πᾶν τὸ πλήρωμα τῆς θεότητος σωματικῶς,
The reason you must not be taken captive by a philosophy that doesn't accord with Christ is) because in [Christ] the whole fullness of deity is dwelling bodily,
καὶ ἐστὲ ἐν αὐτῷ πεπληρωμένοι, ὅς ἐστιν ἡ κεφαλὴ πάσης ἀρχῆς καὶ ἐξουσίας.
and you have become filled in [Christ], who is the head over all rule and authority.
Ἐν ᾧ καὶ περιετμήθητε περιτομῇ ἀχειροποιήτῳ
(What follows is the foundation for your present fulness in Christ consisting in what God has done for you in Christ:) In [Christ] also you were circumcised (put to death by God) with a circumcision made without hands,
ἐν τῇ ἀπεκδύσει τοῦ σώματος τῆς σαρκός,
(in that God) stripped off the body of the flesh (i.e. Christ's human body, cf. 1:22),
ἐν τῇ περιτομῇ τοῦ Χριστοῦ,
( in other words ), God circumcised Christ (in Christ's violent death)
συνταφέντες αὐτῷ ἐν τῷ βαπτισμῷ,
(you were circumcised in Christ, ie. you were put to death with Christ) in that you have) been buried (by God) with [Christ) in baptism,
ἐν ᾧ καὶ συνηγέρθητε διὰ τῆς πίστεως τῆς ἐνεργείας τοῦ θεοῦ τοῦ ἐγείραντος αὐτὸν ἐκ νεκρῶν•
(furthermore) in [Christ] you were also raised (by God) with [Christ] through faith in the powerful working of God, who raised him from the dead.
καὶ ὑμᾶς νεκροὺς ὄντας [ἐν] τοῖς παραπτώμασιν καὶ τῇ ἀκροβυστίᾳ τῆς σαρκὸς ὑμῶν,
(Let me explain about God's raising you:) And (although) you were dead in your trespasses and in the uncircumcision of your flesh,
συνεζωοποίησεν ὑμᾶς σὺν αὐτῷ,
( Nevertheless ) God made you alive together with [Christ],
χαρισάμενος ἡμῖν πάντα τὰ παραπτώματα.
( because [God] forgave us all our trespasses,
ἐξαλείψας τὸ καθʼ ἡμῶν χειρόγραφον τοῖς δόγμασιν ὃ ἦν ὑπεναντίον ἡμῖν,
( in that God] canceled the record of debt that stood against us with its legal demands.
καὶ αὐτὸ ἦρκεν ἐκ τοῦ μέσου
and God took [the record] from the midst
προσηλώσας αὐτὸ τῷ σταυρῷ•
( in that God) nailed [the record] to the cross.
ἀπεκδυσάμενος τὰς ἀρχὰς καὶ τὰς ἐξουσίας
( furthermore , in that ) [God] disarmed the rulers and authorities
ἐδειγμάτισεν ἐν παρρησίᾳ,
( therein ) [God] put [the rulers and authorities] to open shame,
θριαμβεύσας αὐτοὺς ἐν αὐτῷ.
( in that God) triumphed over [the rulers and authorities] in [Christ].