Unfortunately it won't work if the image is saved onto your PC. Have you uploaded the image to a free storage site, i.e. Photobucket or Imageshack?
Then you get the URL for the image ..... it'll look something like this:
http://img106.imageshack.us/img106/2...mation45ld.gif ...... and insert that between the [img] and [/img] brackets.
Or if it's posted on another website, right click on the image, select 'Properties' and then copy the URL and paste this between the [img] and [/img] brackets.