You rotate the engine in it's normal direction (clockwise as seen from the front) and stop when the timing mark is about 3/16" from the pointer.
Of course, that is but one step in the series of things you do to set the timing.
Among the things to do prior to this step is setting the points gap.
Also, bear in mind that the 4° static timing is merely a starting point -- the best timing for your engine will be set based on how it runs.