I have a Midi cable which connects to the Joystick port. But I dont know how to transfer the MIDI data! Please help, I have been trying to do this for a year now!!

The best way that I've found to do it is just to do a bulk dump. Press [SHIFT] and key #16 (I think) and it sets it up to dump via MIDI. Set your sequencer to record and then press [ENTER] on the 505. Your sequencer will record all pattern info incl. notes, effects, pitch/mod, etc. If you want it track by track then the only way to do it is to set your sequencer to record on 8 MIDI channels and then just play the pattern on the 505.