What Am I Doing Wrong

First off- darned near everyone has mis-calculated an angle or two. This mistake is way more common than folks will admit.
Second- those that make no mistakes generally aren't doing much, at least in my experience.

Keep at it!
 
First on setting the compound to 29.5 on my lathe that is 60.5 degrees on the dial. Check that on yours.

Second I had to put a magic marker line on the thread dial so it would engage on the mark. It's only a little bit different than the stamped mark
 
A quick way to tell if you have your angle correct is to set your tool on the compound with one cutting edge parallel to the side. Your tool should point straight ahead, perpendicular with the axis.
 
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