Your interpretation of the first line is correct (though grammatically it addresses one Christian soldier, not plural "troops"). The second line is very hard to understand. I found a note somewhere relating it to a passage in the Bible, Philippians 3:7-8, in which "everything" is said to be considered a loss in comparison to "the surpassing greatness of knowing Christ Jesus my Lord, for whose sake I have lost all things".
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SweetFreedomChristian (troops), raise and attack themThat's sort of right. I take Christian to have the referent "anyone who is a Christian", not troops specifically.
SweetFreedomthem (the troops of Midian?)Correct. Also possibly metaphoric.
SweetFreedomexpecting to win without any loss