Definitely some really good monitor speakers or headphones. Read a bunch of reviews on everything. Headphones are harder to find good ones with flatter response and also a lot of companies just tack on "studio monitor headphones" just for kicks but actually they are more of dj headphones and not true to sound.
Psytrance is very heavily focused on super crisp production sounds.
Software is generally up to you. Maybe watch some youtube videos and see which DAW looks like it would work best for you. +You can learn a lot of tricks watching what other people do (and even different DAWs have a lot of the same things just presented differently so you can learn about mixing sound/using compressors/eq'ing etc).
A lot of these programs their differences, various strengths and differences... I've used Logic and Ableton heavily, and Fruity Loops quite a bit, I've also tried Reason a few times but the racks get messy for me although I can understand why people would like it. Cubase and Renoise seemed hard to me, but I didn't really spend more than a few hours trying to familiarize myself with either.
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