Of course you must keep the leadscrew engaged while threading,otherwise you will lose position,but that does not prevent you from stopping the machine and winding out the cross slide when you reach the end of your thread.
Then you just reverse,back towards the tailstock,set the cross slide back to zero and bring in the topslide to increase the dept of thread. A low speed is a great help,dont know what your,s is but when I,m cutting course threads,I find that even 50 RPM is a bit fast ! It,s great for most other threads.
Never seen a lathe like that,with only shaft,must take some getting used to !
Perhaps it would help if you cut a groove just short of the bolt head and get ready to reverse as you approach it.