Flashing lights usually means no good. What Windows is the old machine using? If the machine is not booting all the way to the desktop, then you probably need to insert that Windows version DVD and do a Repair (not install). If you don't have the disk, ask your friends.
Did you move the old computer? Moving it might have jolted some parts loose inside. Open the case door and firmly insert the video card and ram pieces. Then check that cables to the hard drive is snugly attached at both ends. Be mindful of static electricity as it can kill ram, if you have carpeted floors, do this on a wooden floor or washroom tiled floor.
Did you move the old computer? Moving it might have jolted some parts loose inside. Open the case door and firmly insert the video card and ram pieces. Then check that cables to the hard drive is snugly attached at both ends. Be mindful of static electricity as it can kill ram, if you have carpeted floors, do this on a wooden floor or washroom tiled floor.