Learn how to warp(if you don't know how already) and look up on youtube how to make a proper dj template in ableton. In your view mode enable your crossfader & decks a & b.
If you are using traktor + sync then yes, ableton is a wise decision.
I personally still use traktor but have messed around djing in ableton. EQ3 is what you are going to be using on each of your channels to control your mids hi's and lows without a mixer.
I don't really support the internal mixing idea, I would personally use a sound card and put each channel through a mixer. Thats personal preference on my end.
Idealy you can do everything within ableton though, my gripe would be cue'ing and previewing tracks, if you can sort out a way to do that internally without messing with your mix then you're golden. Its nice to preview what you're going to blend before its live & thats where a mixer and splitting your channels through a sound card comes in handy.
Good luck in your ventures, I am sure you will come across a couple head aches along the way but there are multiple youtube tutorials and guides on how to do it.
You can always do a traktor + ableton crossover. You time sync traktor with ableton then can run traktor as a primary and ableton in the background doing chain effects & lots lots more.
food for though.
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