Trancoding on the fly

I figured out the other problems within the little web browser area i didnt know i was suppost to select the play button to stream i though i was just suppost to click the movie. Now im having another problem the files i have are full 1080p video that are pretty big i want to transcode and stream while i am doing that because it is advertised the program can do that. So can someone please give me some sort of instruction or guide to follow to accomplish transcoding and being able to stream the parts ive finished aka trancode on the fly. thanks
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