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Do a google search using the following phrase: "BMW bifecta trifecta Bluebee"

This should pull up most of the threads discussed about this issue that plagues the e38/e39/e46/e53 generation of BMWs. Bluebee compiled a lot of info on how to diagnose this issue to either eliminate or point the finger at the various locations/sensors/components that may be causing the one, two, or three lights that are related to brakes, ABS, and traction control.

Good luck. :)
 

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Check the fluid level. The reservoir is under the drivers side cabin filter. If that's fine then it can be a number of things - ABS module, speed sensor, steering angle sensor. If you don't have a scanner then look on eBay for a C310. They can read BMW ABS codes
 

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Yep you're gonna need a code reader or have someone read em
 

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ALGhoul
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Yep it may be brake fluid level low or sensor not properly set after changing it with brake pads
You can reset it by kep ignition on for 5 second then start the engine it'll go if there is no problem
 

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Discussion Starter #7
Yes which is what prompted me to change brakes they were worn so bad i had holes showing thru the rotors so just changed everything but the calipars and fliuids also i noticed that my driver side tires has no wear sensor at all i see it on my passenger side so i just went to ebay and ordered break sensors maybe that will solve the problem
 
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