Hi Hurric,
I suggest to set the ignition timing so it sparks at TDC or very slightly before.
And the valve timing i quote from Gil who posted this in an earlier thread;
"Try a valve lash of .031". That will help some. The engine will run good with the exhaust beginning to open 10-20 degrees before BDC and closing at or very slightly before TDC and firing at TDC. (fuel: Coleman or other pure fuel or white gas mixed 15:1 with Marvel Mystery Oil)"
Hope you get it running :-)
Ade