Connecting two PCs with out switch or router

One easy way of doing this is by connecting two PCs using a Ethernet Cross over cable. I got this cable for 35(1 meter in length) from a local computer hardware shop. After connecting the two PCs change the network connection settings as given below

In the properties of TCP/IP portal
For the first PC give IP details as 10.1.1.1 and sub-net as default 255.255.255.0
For the second PC give IP details as 10.1.1.2 and sub-net as default 255.255.255.0

Wait for couple of minutes then try to ping second machine "ping 10.1.1.2", the ping should be successful.