Live monitor doesn’t work, please help. I waded through the documentation but to no avail. I am on a cubase 5 I bought years ago.

I do have a monitoring option on my audio interface. However I want to plug in an instrument into my interface then apply effects from cubase and hear the audio signal after effects have been applied live while recording. My system ought to be powerful enough to handle this.

I know about control room, I know about the vst-connections, yadda yadda. Is there an obvious setting i am missing? is it a bug?

I remember on older versions friends of me used that all they had to do is press the monitoring button and it would just work. What is going on here? is it me?