Hi from Canada and happy to be a member of this great forum! 
I can consider myself a newbie since I got the UR fairly recently and still getting to used to it…and need professional advice alreay! 
My question is about using the DM function within Cubase 6.5.
Well, I have a few older projects (recorded entirely with my previous interface) and one of them is basically in need of just the lead vocal track. When I tried to record the singer the level of the monitored vocal input is too low to understand what’s going on and he says he can’t hear himself singing at all (neither do I to be honest). On screen the input level looks good, the recorded signal looks good in terms of size, waveform etc.
Also I notice a bit of delay (should I say latency when it’s supposed to be latency free?) between the start of the recorded vocal track and the rest of the tracks.
Changing the buffer to the lowest value of 64 samples (Cubase shows about 11 ms delay/latency round trip) doesn’t make any difference…Restrain delay compensation renders the ‘negative’ useless since it cuts some essential plugins and the singer can’t get the ‘groove’ anymore…
I read the manual for both the interface and Cubase 6 but couldn’t find any helpful info regarding how to adjust the monitoring level when using Direct Monitoring.
Any ideas?
okay…
not too many UR 824 users… 
,not too many ideas at all…
but what about you guys that use the ‘older sister’ MR 816 CX? Or anybody? Anybody at all?! 
Using the Direct Monitoring from Cubase and the sweet spot morph from the interface I found some sort of a workaround for my monitoring problem:
For the whole preexisting tracks in the project I created a group bus that goes out to the 2 bus (or Mix1 or Stereo out, whatever) and the channel that i want to record the new track goes directly to the stereo out. In order to hear what’s being recorded (I mean monitoring the recording in zero latency) I gradually reduce the volume of the Group bus down to a level that allows both me and the singer to comfortably and clearly hear what is being recorded on top of the rest of the project! Of course I compensate for the loss in volume by simply raising the headphones levels accordingly. And it works just fine!
Of course any comments, opinions or different ideas are more than welcome! Hey there pro’s?!
A couple of minutes to spare? 
C’mon…
Hey man.
I’m not that hell of a pro. But I’m pretty sure that you can still
adjust the levels of the armed tracks with the channel fader to
controll the level (even when Direct Monitoring is turned on).
And when the rest is too loud I pull the master fader down and the armed channel
fader up and adjust the level of the mix with the headphone knob.
You can also create a seperate cue mix (devices > hardware).
But to be true I don’t use this as I only record one musician at once
all the time.
No1DaBeats is correct…
You must enable ‘direct monitoring’ tick box in the Yamaha ASIO section. Once you have created a track you can enable the direct monitor button on the track. You adjust your input as normal on the input part of the mixer. Then adjust the level of the monitoring using the slider on the selected track, there is also a gain pot at the top…