With my timing light, I connect red wire to the battery positive, black wire to ground (like a bolt on engine cylinder head) and the clip to cylinder one spark plug wire.

My dwell meter has two wires, the black is grounded (I clip it to a metal piece on engine), the red goes to the coil. My coil only has one terminal (at 6 o'clock position, directly below the wire which goes to distributor cap), some of the coils have 2 terminals; I don't know proper hook up in that case.

Damian