Timing 101: Connect your timing light to the number one spark plug wire, they usually clamp around the wire and have two leads that connect to the battery for power. Assuming this has been converted to 12V, if it is still 6V then you will need a light that powered by AC or even an old style non-powered that connects between the spark plug and distributor.
Before starting find the timing mark you want to use, in this case 8 BTC, clean and mark it with a bit of paint on it and the stationary mark. I use white or yellow, to make it easier to see. With the engine at operating temp and idling
@450 RPM point the timing light at the opening. The light, most have a button to push to make it flash, press the button while pointing the light at the marks and the strobing of the light will make the marks appear to be stationary. Loosen the hold down bolt at the base of the distributor a tiny bit so the distributor can be rotated by hand and GENTLY turn the distributor left or right to bring the stationary mark in the hole and the desired mark on the flywheel in line with each other. When marks are aligned, retighten the hold down bolt of the distributor and recheck timing to be sure it did no move.
NOTE: look as straight on to the marks as possible, looking at the marks at an angle WILL change your perspective of the alignment and cause the timing to be off by a few of degrees.