You can apparently do it automaticlly... There is supposed to be information about it on Dreamwidth's site.... and you need to get an invite code to make a free journal on Dreamwidth... I got one from one of my Twitter-friends. I am sure you can get one to, they aren't that hard to come by.
Importer - how to import your LiveJournal to Dreamwidth (https://www.dreamwidth.org/tools/importer)
DW Codesharing - where to get invite codes to DW so you don't have to get a paid account... (http://dw-codesharing.dreamwidth.org/)
I still haven't learned how DW works that well, since well... I don't frequent the site that much. But there is this among the FAQ's: A guide to Dreamwidth for LiveJournal-users (http://www.dreamwidth.org/support/faqbrowse?faqid=121)
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Importer - how to import your LiveJournal to Dreamwidth (https://www.dreamwidth.org/tools/importer)
DW Codesharing - where to get invite codes to DW so you don't have to get a paid account... (http://dw-codesharing.dreamwidth.org/)
I still haven't learned how DW works that well, since well... I don't frequent the site that much. But there is this among the FAQ's: A guide to Dreamwidth for LiveJournal-users (http://www.dreamwidth.org/support/faqbrowse?faqid=121)
I hope that helps?