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Baud rate for the PT-CAN bus (only CAN bus in an E53, I expect) is 500k.
What do the wires you connected to attach to?
CAN bus wires are twisted pair. For the E46 and similar vehicles (probably E53) it is yellow/brown and yellow/red or something very similar. Might be good to check a wiring diagram. It should clear it up. Careful with yellow wires as yellow is often used in airbag systems. Don't randomly try wires. Also CAN bus is 5V or less. Tapping a 12V wire could have bad consequences.
Make sure CAN H and CAN L are not reversed as well.
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