I am having problems retracting the foreskin during an erection, when i go to the bathroom its usually easy to pull it all the way back but i dont know it just hurts when i have an erection and it usually turns really red.

I forgot to add that i'm getting a horrible smell in my penis area i dont know how i can fix that or if its something permanent.

:confused: Are you cleaning behind/under your foreskin when your penis is soft? If plain water isn't enough, use a mild soap like dove or ivory, that doesn't have a lot of perfums in it.
If you don't like the extra dry feeling after washing, you can also apply some baby oil/and or a bit of vaseline. The cleaning will take care of the smell, and the oil/vaseline will keep your penis from feeling dry. Keeping your penis clean will also remove chance of infections to your wife or girl friend, as well as yourself. As for the tightness, follow the instructions on the stick post on this site. Theirs a lot of great instructions on stretching your foreskin. :cool:

If the bad smell persists, despite daily washing, see your doctor. It's probably gardnerella. In women, this causes bacterial vaginosis.