Read Ephesians 5:15-21 on the site.
This “walking,” this περιπατεῖτε is the present, indicative, active form of the verb περιπατέω, which, in this context, is speaking of ‘walking concerning something.’ It is describing a certain way in which a Christian walks through each day. It has to do with relationships and how he or she responds and reacts both outwardly and inwardly to all of life’s circumstances. Paul tells us to do this ἀκριβῶς or akribōs. I and the NKJV translated this as “circumspectly.” The idea is to walk through this life looking all around, being on the lookout.