'95 740i "TRANS FAILSAFE PROG" msg on dashboard

If there is anyone who can help me out. I just recently got a '95 BMW 740i. Everything works fine, except when I step on the gas, usually in 1st gear, and the car begins to stutter and it gives me a message saying "TRANS FAILSAFE PROG". This only occurs when I step on the gas while on the 1st gear. As the car shifts to other gears, it starts to pick speed, but often times, it will do the same stutter, like when I'm lowering the speed and suddenly step on the gas again, it does not respond correctly when I step on the gas, as the car is stagnant while my foot is on the gas pedal and the car takes time to accelerate.

I'm not sure if there is a clutch problem. I was told to check the transmission fluids to see if these are in good order, but I don't know where to locate the dipstick. Are there any other suggestions anyone could give me, because I don't want to go the BMW dealer, because that translate to buying a new transmission. PLEASE HELP N' ADVISE. I appreciate any suggestions with this problem.

Make sure your batteries are fully charged. Had same problem in my 01. Dealer replaced battery and failsafe went away. Still downshifts hard though.....

I am new to the board and I joined primarily to learn; however, I have already read a number of posts I think I could add some perspective to. I am no expert and can only relate to you what I am experiancing. See @PARRAIN :newbie: