I got mine last week and im kinda not sure i dont want to mess anything up
First thing is find the advance position at the crank window plug. Find an old set of plugs and use those as your spark. Leave one lead on the cylinder, it might fire off. The long slots in the ignition plate, you center this. Think of that cup window as the leading edge opening and closing edge. So as the cup window is stationary at the crank window, move the backing plate either way unit you cause a spark at the plugs.
Set the lockers down slightly because you may move it again. Back wheel has to be off the floor, as you move the crank backwards and then forwards. A spark should occur at the advance position. Meaning, you can also move the crank back and forth as you move the plate and see if you have to move the plate more in that one direction.
To see what you are aiming for, you are looking at the cup without the plate in place. You timed the crank mark in the window. When you move the plate into position, see where the magnetic pickup is in proportion to the cup's cutout window? There you see where to move the plate in said direction. Spark at the mark, tighten the set screws, light it off, crank plug back in place of course.
Recap:
1. Move the back wheel and match the advance mark to crankcase window, a spark should occur by moving the plate.
2. Leave the crank in the advance position, move the plate in either direction so as to make a spark occur.
3. Finalize [either way you time it] by moving the crank backwards, then forwards so the advance mark stops and you heard the spark occur.