Stupid question, but you have slackened the 1/4 BSF nut so that the Thread Indicator Dial can swing to engage with the Leadscrew, before retightening it?
Once engaged, as the Leadscrew rotates, it will drive the dial, so that you watch it rotate, and close the half nuts at the appropriate reading.
If this is all Greek to you, I would advise reading up on screwcutting before cutting metal for real (By all means experiment, so that you gain the experience and confidence to do the job well when the time comes to do it in anger. )
It's a bit late, today, to ask Santa to bring you Martin Cleeve's book, No.3 in the Workshop Practice Series, "Screwcutting in the Lathe" but I would expect that you would find it a help, now, and in the future.
If the problem is one of excessive backlash, ( > 0.020"? )a new mazak nut may improve matters considerably..
Being soft, it is more likely to wear than the steel :Leadscrew, and can easily be replaced..
No doubt RDG, who now own the Myford brand can supply, at relatively low cost.
HTH
Howard