One tooth is 18 crank degrees (which is the only thing we should ever refer to to avoid confusion.) If you advance a tooth and put in a 6 degree key in the retard direction, you'll be advanced 12 degrees from where you started, which I don't think is what you want.
What you want to do is find where full lift is with the timing dots aligned. As an example, say it's 115 degrees ATDC and you want 106 net after assumed stretch of 2. So you need to advance it (115 -106) + 2 = 11 degrees. In this case, you'll want to punch a new dot for alignment after advancing the crank one tooth which will bring you to 97. Install a 7 degree key (or 8 as a second choice) in the retarded direction. That means when viewing the end of the crank the part of the key in the crank sprocket is offset in the counter clockwise direction. Your cam will now be dialed in at 104 degrees ATDC, eventually to be 106 as planned once the chain wears a bit.
Another example, say it's 90 degrees (extreme advanced example) with the dots aligned. In this case, you'll want to punch a new dot for alignment after retarding the crank one tooth which will bring you to 108. Now if you install a 4 degree key offset the opposite to the above, you'll be at your installation target of 104.
I hope this makes sense. Good luck, but double or triple check your TDC first with the same technique as finding full lift, a few degrees before and aft and split the difference.
Edited by hhhh, 10 October 2015 - 03:34 AM.