ABS error and Traction Fault (also Window Not Set and Gearbox Fault) usually stem from a poor battery/alternator. Why this car cant tell you that the voltage is low or the charge rate is poor is one of the abiding mysteries of British (sorry BMW) engineering. It scared the living daylights out of me last year when the alternator stopped putting out enough electricity. A quick trip to an auto electrician to replace the diode on the back of the alternator fixed it up for me. Good luck with the starting - my car had the same problem that in my case was the crank position sensor and low fuel pressure. Ended up replacing the sensor and the fuel pump (the filter is integrated into the pump on later cars).