Two comments, in the hope of not being thought pedantic.
Ideally, the lathe should be fed through a No Volt Release switch. Then if, for any reason, the power is removed, there is no risk of the machine starting up unexpectedly.
If you want to run the lathe in reverse, many use the old drum type switch (using this to switch the lathe on or off can cause the contacts to burn, so stoppong and starting with the NVT safegaurds this by ensuring that the drum contacts are only made/ broken with no current flowing).
Secondly, a parting tool with a large top rake is likely to be more prone to digging in, especially since you will be using it in effectively a front tool post. I fitted my ML7 with a Myford 4 way toolpost to make tool changing easier. (You could even make one from laminations of fairly thick plate, say 12 -15 mm)
My preference is to use a HSS parting blade, (Mine is 3/32″) with no top rake, and set on centre height. Usually moneral or soluble oil is drip fed with a brush to make life a lottle easier
Mine is mounted, inverted, in a rear toolpost. (I made one for my ML7, and it made parting off less fraught) Being inverted, the swarf is more likely to fall away, reducing the risk of jams.
HTH
Howard