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Problem is I have no idea how to setup my nameserver correctly so i can enter these on my domain host. Is anyone able to help me out here it would be greatly apreciated
If so can it be pinged by the outside world?
If not get you IP address sorted so it can be pinged by the outside world.
Once this has been done set the DNS NS records for the domain to be ns1.example.com nnn.nnn.nnn.nnn where nnn.nnn.nnn.nnn is your IP address visible from the outside world.
Set up www.example.com DNS record on your machine. If you can ping www.example.com your DNS is working fine. If not the problem is in your DNS server.
Let us know where your system falls over and we can probably give you more information.