Apply Plugin/Effect Pre-Recording

How do I apply compression and EQ to my drums, guitars, and vocals pre-recording so I can hear what it sounds like?? I can’t find any help from google so I came here. I apology if this question has already been asked before. Please send me a link to it if it has been. Thanks to anyone who can help me.

use the inserts on the input channel in the mixer

Ummmm, I’m not sure I understand. I went to the mixer, went to the channel, selected inserts, put on my compression, switched the compression button to input and I don’t hear a difference. I’m using Cubase 5.

Turn off direct monitoring.