IF you accompanied memorizing those words with studying the grammar, you might achieve your objective. Big IF! Just keep in mind that Latin is quite a bit more inflected than English. Most Latin nouns have ten forms, and even though some of them are the same, you would have to know the possible ways a certain form can be used to translate it correctly. As for verbs, each one has DOZENS of forms. In some instances the form of a word in the passage you're reading may be so different from the from you learned that you may not even recognize it.
Here's some advice: go through that list and sort out the parts of speech--nouns, verbs, adjective, adverbs, pronouns, prepositions You might mark each type of word in a different color.
Now go back and look at the nouns again. Does each one have a second form of the word after it? Or at least an ending--ae, i, is (probably a longer ending, but its last two letters will be is), us, or ei? If these are given, mark each noun with a number 1 through 5: ae is 1, i is 2, etc.
Now look at the verbs. Most of them will end in o. For the moment, set aside any that don't. Again, if you're lucky, each one will have another word, ending in re, after it. Or at least an ending--are, ere, or ire. If you have these, go through and number them, too. Any verb with that second form (the infinitive) ending in are is 1. If the first part given ends in eo, it's a 2. If it ends in o or io and the infinitive ends in ere, it's a 3. And if the infinitive ends in ire, it's a 4.
If your list doesn't give you these second forms for nouns and verbs, you'd better get hold of a dictionary and check them there. It will be very helpful to have that information and to have them numbered as you go on.
Now you're ready to switch to the grammar book. Actually, I don't recommend an actual grammar book but an introductory Latin textbook. Frederic M. Wheelock's Latin: An Introductory Course is excellent. As you begin, you'll probably find that most of the nouns and verbs in the passages you read are like those that you numbered as 1--first declension nouns, first conjugation verbs. If you've memorized that list, you'll probably already know most of the vocabulary for the readings. The varioius endings will be introduced in gentle steps, but Wheelock will soon have you reading reall Latin literature, even if it's in simplified form at first.
Good luck!