is the msd hooked up correctly? the 12v switched has to be hooked up to a 12v constant when ignition is on. you can check it with a test light. just put the test light where you have the ignition wire hooked up and turn the motor over and see if the test light stays light while cranking
a lot of times people turn the key on to find the ignition wire but they dont make sure it stays "hot" while cranking
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