Only runs 40 Degrees advanced

You did say your chain was loose before you added the tensioner?
Yes for some reason I put a sealed power timing chain set on some years ago and it seem loose when I put it on so about four years ago I change the cam and I put a cyoles timing set on and it was still looser than I would like but I put it on and ran it just fine until now so when I pulled it apart to check The alignment I put a cyoles chain tensioner on also.