If it's running and you have a timing light, set the throttle to low idle, 400 rpm, and aim the light at the hole below the starter and see if it's at 7oBTDC. If it's not loosen the distributor locking bolt and rotate the distributor very slowly clockwise to advance the timing and counterlockwise to retard the timing. Then check the advance mechanism by reving the engine and seeing the timing advance. If you are trying to time the engine because it won't start, you need to find 7oBTDC on cylinder #1(actually you can do it on any cylinder, but for arguments sake we'll use #1). Take the distributor cap off and note where the #1 plug wire is located. Remove all the spark plugs. Crank the engine over until the rotor is pointing about 90 degrees before the #1 plug position. Place your finger over the #1 spark plug hole and tap the starter to see if you can feel the pressure pushing against your finger. If you do, then #1 piston is on the compression stroke. Tap the starter or put a wrench on the crankshaft bolt and slowly bring the piston higher checking the timiming mark hole to see when the engine is at 7oBTDC.(The notch in the hole will line up with the 7o mark.) Then note the position of the rotor. It should be pointing near to the #1 spark plug wire. Put the cap and rotor on, put a paper clip or a bent piece of wire in the spark plug boot, loosen the distributor hold down bolt, and turn on the key. Hold the sprkplug boot with the paper clip in it near a good ground. Slowly rotate the distributor back and forth until the spark plug wire fires. At the point the the #1 plug wire fires, you are statically timed. You'll probably have to do tis several times to get it right and when you do, carefully tighten down the distributor hold down bolt and put the plugs back in, connect the wires and start it up. If you have a timing light check to make sure that the timings right and adjust as necessary. Check the advance function also. I have done this on numerous engines with conventional automotive type ignition systems and it has never failed to work. Hope this helps.
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