There should be a slot in the other end of the cam (right hand end).
Take the points cover off, and turn the engine over using the stator bolt. Rotate it until the T 1-4 mark on the advancer lines up with the notch in the crankcase, the engine should be at TDC in this position.
Now at this point of rotation, you need to have the slot in the end of the cam parallel to the head surface. Then you fit the chain, making sure that the slot stays parallel with the head. Once it's fitted, you can rotate the engine 360 degrees, and the slot should line up on the opposite side. If it's not parallel to the head, then you're off by a tooth or two.
If you haven't already, grab yourself a copy of the service manual.