Very basically, it is like this... The White, Green, Blue, Purple and Gold runes are basically the rarity of the glyph your going to make....

The blue ones, the ones that say, add, subtract, enhance, reduce, etc... will do exactly that... The green ones, the ones that have the funny names... all mean something, Oko for example is Health....

So, if you do a Gold Rune on the right, a green colored Oko rune in the middle and a blue add or enhance rune on the left, you'll get a glyph that adds health... watch what your making tho, some add to armor, some weapons and some jewlery... these are determined by the blue runes... I forget the shape of them atm...

Enchanting in a nutshell:

3 kinds of runes (Potency, Essence and Aspect) need to be combined to make a glyph.

Potency runes go from Potency 1 to Potency 9 and have positive and negative types of each rank. They are kind of like the flipside of the same coin. Example: if you are making a glyph from a fire essence rune, the positive potency rune will give you a +fire damage weapon glyph while the negative potency rune will give you a +fire resistance jewelry glyph. The higher the potency, the stronger bonus you are going to get.

Essence runes determine what kind of effect the glyph will have. Fire, Health, Magicka, Potion, Ice, Stamina, etc. Essence runes do not have differing ranks and they are the most common to find.

Aspect runes determine the improvement color of the glyph. Ta = white. Jejota = green. Denata = blue. Rekuta = purple. Kuta = gold. The better the color, the more bonus you get from the glyph.

So, if you wanted to make the strongest health glyph, you'd need Potency 9 positive rune (Cura) + Oko (health essence rune) + Kuta (gold aspect) = + 133 max health glyph. If you used a potency 1 rune and a Ta instead, you'd only get something like +25 health (just a guess).

Once you use a rune, it will be forever translated. Once you use each rune at least once, all runes are translated for you (except for two bugged essence runes which have been removed from the game in the last patch but I still have them in my inventory) so you'll be able to put stuff together and see what combinations are possible before actually creating the glyph.

Other notes:

Enchanting is by far the most difficult and longest craft to max. This is from a combination of lack of materials in the world compared to the other crafts plus you get a lot less crafting inspiration for enchanting compared to the other crafts. Enchanting will rank up at something like 1/4 or 1/5 the rate of other crafts.

However, future patches will probably see enchanting boosted so that it will rank up faster though I personally don't like this because I've already done all the hard work and now it's going to get easy for everyone else. I'll lose some of the market I have as a maxed enchanter but, meh, what are you gonna do?

You get a large amount of crafting inspiration for the first time you translate any rune. After that, using the same runes in crafting glyphs will only give a tiny bit of crafting inspiration. As with all crafts (except potions and food), you get a lot more inspiration deconstructing than creating. Find yourself an enchanting partner to make things easier on you. I used a secondary toon enchanter and traded glyphs between alts and maxed that way.

High level runes are fairly difficult to find. Potency 9s and Kutas are not easy to find but are in high demand because they make the best glyphs. Getting to enchanting rank 32 and getting hireling 3/3 is a good way to getting those runes. You should be getting at least two potency 9s per day that way and a good chance of getting a least one Kuta per day.