No scantool? You should have an egt to predict the onset of knock so you can lift before you begin to damage your engine.
The first thing you need to do is stop, and get the turn-on point established. That is the one setting that remains constant. (1-2 psi before knock). If you can access the contacts on the hobbs style switch you can rigg up a test light.
I shouldn't tell you this, at this point, but you prolly need more timing, and less spray. Drowning the spark will increase temps in the headers as all the un-burned fuel ignites. A high reading on the egt, early in the run, would indicate this.
Another thing is check the spark. Just pull a wire at the coil, and see the spark is blue, and will jump 2-3" to ground.
I really hate to tell you to turn the spray down, and increase timing, before you can be sure that fuel pressure is correct at WOT. A $50 guage from Postons, that can be taped to the windshield will take car of that question mark.
Are you sure the alchy pump is working right? See how much fluid is pumped in 12 seconds. Set it so you are spraying 8 ounces in that period of time. That will get you in the ball park.
If you can't run close to 15 psi without knock, then you have other problems, and need to fix that.
Before increasing timing throw a couple gallons of toulene in the tank, to guard against heavy knock. Since you are flying blind, this might save your engine...Two ounces of Marvel Mystery oil, get added for every 3 gallons of toulene..
You really shouldn't be doing any of this without an egt. Going into the 'red' even for short periods of time will damage the mains.