Speak with the guy in Torchlight that enchants your items for you. Choose the item you want to enchant and press A. If it was a successful enchantment, press Start and exit to title. The game will auto save your game for you. After that, continue your game and enchant your item again. If nothing happens or you lose all your enchantments, press the Xbox controller button and press Y to go to the Xbox dashboard. The game will not save and you will start the game after the last successful enchantment. Always exit to title after each good enchantment to enchant your items without fail.