The Hardening WP Codex http://codex.wordpress.org/Hardening_WordPress#Securing_wp-config.php says you can move your wp-config.php file to the directory above your WP install.
When I move mine out of my /public_html folder and place it in the directory above I get the following error,
There doesn't seem to be a wp-config.php file. I need this before we can get started. Need more help? We got it. You can create a wp-config.php file through a web interface, but this doesn't work for all server setups. The safest way is to manually create the file.
What am I doing wrong?