The answer yes, it is possible to connect your HDD and DVD drive to a single IDE connector.
The easiest way is to set the jumpers on both devices to the cable select setting (CS). Then connect them both to the same IDE ribbon cable and then the cable to the motherboard's IDE connector. Enter the BIOS when you power on and check to make sure the system detects the HDD and DVD.
If detected, you should be good to go. If not detected, power down, set the device farthest away from the connector to master and the other device to slave and try again. Also make sure that your IDE port is actually enabled in the BIOS.