Timing is adjusted by moving...
Timing is adjusted by moving the bracket holding the sensor up or down. Moving the sensor closer to the 12 o'clock position on the timing wheel retards timing. Moving it closer to 6 o'clock advances it.
Next, crank the engine and check the ignition timing. Start by setting the distributor timing. This is important so that you will already have the advance set before setting the crank trigger. If you plan to run the distributor timing retarded as a means of cutting engine power, set it at that mark. Now switch to the crank trigger and set it.
Also, when cranking the engine, it can be easier to get it running with less timing, so it's a good idea to crank it with the ignition trigger. Once the engine is warmed up, switch to the crank trigger and get ready to race.
Because the timing wheel moves the crank pulley out, it is necessary to use spacers between the engine and the water pump in order to move that pulley out, also.
When the track gets slick and wheelspin becomes a problem, a secondary timing system that is retarded approximately 4 degrees can make the car easier to keep hooked up.
As you can see on this Limited Late Model motor, even with the crank trigger and distributor in place, the entire package isn't any larger or heavier than a standard ignition timing system.
Here's the rest of the electrical setup tucked away in front of the dash on a Late Model Dirt car. The driver has switches in the cockpit to choose between the crank trigger and the distributor as a timing device, and between main and backup ignition boxes and coils.