The firewire connection to the audiofire is all you need, disconnect the spdif.
Here is the manual
http://www.echoaudio.com/Downloads/M...ual%20v2.0.pdf
According to that analog outputs 1 & 2 are monitored with headphones so you should set those in traktor as monitor and 3 & 4 as master.
Try the cue button in software first in case there's something wrong with your midi settings.
You do have your channel fader at 0 when you cue right?, because you will hear the same thing through phones and speakers if you don't.
BTW if your have only connected output 1 to your speakers thats a single channel so mono only.
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