I have every thing connected and recording but i get a long period of latency. Please be as detailed as you possibly can, I am good with computers but know virtually nothing about recording audio.
You need to adjust your buffer settings as it sounds like they are currently set high. You do this in the DAW. I have never used Audacity so couldn't tell you exactly where to go. But searching the help file or manual for "buffer" should steer you in the right direction.
Search 'audacity latency compensation' on youtube. There's a couple great videos showing exactly how to do it. I had the same issue and it works perfectly now. Basically you're going to record a beep (or any quick, short sound) then make the same 'beep' sound in unison with the first while recording, then measure the latency and correct for it in the settings.

Here I'm feeling generous:
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Unless its electronic drums.

Last edited by tubetime86 at Dec 7, 2012,