Degreeing a Cam vs. Lining Up the Dots

With a (looks like a used/stock?) timing chainset like you have, you can only CHECK where the cam is degreed at now. You WON'T be able to change that number.

In order to actually be able to degree the cam, you will need a timing chainset with a crank gear-sprocket that has multiple keyways in it, and preferably more than just three 2 or 4 degrees keyways.