It depends on what you're trying to do.

If you want to translate that sentence directly then yes, but if you're looking for something for conceptual it might not be necessary.

If you can clarify what you're after I or someone else can help better.

Well, I'm not our best translator (maybe post this verse again as a new question) but I'd  say:

Gol ahrk lok, kun ahrk vulom (earth and sky, light and dark)

Vahzah ro (true balance)

Drem kosil hin sil* (peace within your soul)

Ahrk ul do hahnu (and eternity of dreams)

* You could also use kopraan (body) or zii (spirit) there. If you didn't want the ands in the first line I do think you could cut them.

Well, I'm going to have a tattoo on my self with a TES dragon since I love their affinity with time and Akatosh and all of that...
So far the dragon drawing is inspired by Paarthurnax's artwork and I want to have the text below the sketch. 
In english it goes as: 
Earth and sky, light and dark
A truthful balance 
Peace within your being 
And an eternity of dreams.

I'm afraid I'm going to mess it up so if anyone could translate this correctly for me I would be thankful!