How to Record Midi Synths Without Latency in Ableton Live: External Instrument

In this video we learn about Ableton Live's way of handling system latency, plugin delay compensation, and the amazing external instrument device!
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00:00 - Addressing Midi Latency
1:30 - Direct Monitoring
2:45 - Reduced Latency When Monitoring
3:30 - Plugin Delay Compensation
5:40 - Using External Instrument
9:10 - Recording from External Instrument
10:30 - Hardware Compensation