To set up a good sight that has all three 1st 2nd 3rd axis it only takes 20 minutes from start to finish and you really don't need much stuff. You need a bubble level that is a nice short one so that you can fit it in tight places such as your bow string, on your bow string you have a peep and a d loop and string silencers and speed nocks so finding a section where you can put a level is tough unless you have a pretty short one. I think mine is 6 to 8 inches long.
1st and 2nd axis:
Actually they are both first and second axis, it took me years to figure this out that the archery community had grandfathered in 1st axis incorrectly. It is something that happened decades ago and it is so deeply rooted that it will probably never change. But the archery 1st and 2nd axis are both 2nd axis it is just a two step job. So, get your bow perfectly vertical based on the bow string left and right and forward and back. Once you have the bow string perfectly vertical in all directions then loosen the 1st axis bolts that hold the sight mechanism and rotate it and use the bubble level to get it perfectly vertical also. Now lock it down and you have the bow string vertical and you have the sight mechanism vertical so you are half way done. Now loosen the second axis bolts and rotate the scope until the bubble level in your scope is perfect and lock it down. At this point your bow is perfectly level at the bow string and the sight mechanism and the scope bubble so you now have your sight really sweet. This should only take 10 or so minutes.
3rd axis:
Now hang a plumb line and have it ready for you to come to full draw, the whole point behind 3rd axis is that when you aim down or up at extreme angles you bubble is going to lie to you and force you to cant your bow unless you get the bubble level perfectly square to the target. So good sights have the scope mounted like a "door hinge" so you can angle the scope towards you or away from you. You need one more thing, you need a 12 inch or so long rod. I prefer to steal a welding rod from my dads garage and I have used a bicycle scope but any small diameter steel rod will do the trick. Simply use some duck tape and attach the steel rod to your scope and do a good job of making it perfectly vertical to the scope bubble. I tape mine on the front of the scope because this way I can easily see it through my peep when I am at full draw. Now you are ready to aim at the plumb line, simply come to anchor aiming out level and once you have settled in aim down at the ground and line up the metal rod to the plumb line and more than likely your bubble will be not centered. Now let down and angle the scope either towards you or away from you to correct the bubble, repeat drawing the bow and checking until it is perfect when the rod is lined up to the plumb line.
1st and 2nd axis:
Actually they are both first and second axis, it took me years to figure this out that the archery community had grandfathered in 1st axis incorrectly. It is something that happened decades ago and it is so deeply rooted that it will probably never change. But the archery 1st and 2nd axis are both 2nd axis it is just a two step job. So, get your bow perfectly vertical based on the bow string left and right and forward and back. Once you have the bow string perfectly vertical in all directions then loosen the 1st axis bolts that hold the sight mechanism and rotate it and use the bubble level to get it perfectly vertical also. Now lock it down and you have the bow string vertical and you have the sight mechanism vertical so you are half way done. Now loosen the second axis bolts and rotate the scope until the bubble level in your scope is perfect and lock it down. At this point your bow is perfectly level at the bow string and the sight mechanism and the scope bubble so you now have your sight really sweet. This should only take 10 or so minutes.
3rd axis:
Now hang a plumb line and have it ready for you to come to full draw, the whole point behind 3rd axis is that when you aim down or up at extreme angles you bubble is going to lie to you and force you to cant your bow unless you get the bubble level perfectly square to the target. So good sights have the scope mounted like a "door hinge" so you can angle the scope towards you or away from you. You need one more thing, you need a 12 inch or so long rod. I prefer to steal a welding rod from my dads garage and I have used a bicycle scope but any small diameter steel rod will do the trick. Simply use some duck tape and attach the steel rod to your scope and do a good job of making it perfectly vertical to the scope bubble. I tape mine on the front of the scope because this way I can easily see it through my peep when I am at full draw. Now you are ready to aim at the plumb line, simply come to anchor aiming out level and once you have settled in aim down at the ground and line up the metal rod to the plumb line and more than likely your bubble will be not centered. Now let down and angle the scope either towards you or away from you to correct the bubble, repeat drawing the bow and checking until it is perfect when the rod is lined up to the plumb line.