Setting timing ? First time doing it.
Get a timing tape for your balancer if it isn't clearly marked. Mark the balencer at 2 degrees BTDC and at 38 degrees. Shoot the light and make the 2 degree mark line up with the center mark on the pointer.
After that, lock the dizzy down and rev it up. 3-4k RPM and note the total advance. It should be 38 degrees. If it isn't, let us know what you see.
Is it a dial back timing light? If so, turn it to zero.