The chances of putting a large piece of metal in the chuck jaws without it being off axis is very high if you don't use a centre drilled end and a tailstock centre. Set it to minimum run out near the chuck, put the indicator on the far end and tap the stuck out bar with a mallet to get it running with minimum run out at the end as well. Don't have the indicator in contact with the bar when you tap it.
Some people have a bearing mounted as a tool that can be used in the toolpost to push round bars to get them to run true easily. There are videos of them in use on YouTube.
Martin C
Ps search for lathe centering tool on YouTube
Edited By Martin Connelly on 16/11/2017 19:04:03