Hey G'day, mate
I reckon the suggestion that you point out is a good way to improve English if someone has the so called "translating problem". However,how you deal with those words that you couldn't catch and understand??

the way i'm dealing with listening is repeated to listen to a tape or records, which are news of reports, with transcription. When The first time listen to the tape, you have to listen to it without the transcript and trying to understand the whole content of the story or report, and then you may not be able to catch some sections or parts. The things you need to do is to go back to that sections and listen to it again. Trying to catch those parts that you didn't catch. After this, if you still can't catch it, then you have to think what's wrong with that parts and what kind of reasons that you can't catch, for example, is that vocabulary problems(new words or pronunciation)?? It's no limit for you to listen to the tape or recording. However, it is very important that for the last time, you have to listen to the tape with the transcription and trying to remember the pronunciation and intonation. I believe after this exercise your listening would be improved.