Here "my ways" represents wisdom's behavior. AT: "those who do what I teach" or "the people who follow my example" (See: [[rc://en/ta/man/translate/figs-metaphor]])
These two phrases basically mean the same thing. Wisdom is described as having a home; possible meanings of "watching" are 1) a wise person waits outside wisdom's home in the morning in order to serve her, or 2) a wise person waits outside wisdom's house for her to come and teach him. (See: [[rc://en/ta/man/translate/figs-parallelism]])