Even if you have a backlight, helps if you make tick marks about 3 to 5 inches apart on the sides of your canvas. Spray from one mark to the other. On alternate coats interpolate between the tick marks. Spacing depends on the fan size, the ticks should be about 1/2 the width of the oval.
Couple thoughts on the Wagner...
Pay close attention to the gun speed as well as distance. Helps to have somebody watch you spray, almost everybody tends to not keep a constant distance and speed and they can spot you doing it.
If your gun seems to be spraying more on the sides, you don't have the right distance or volume. Spray short blasts on some dark scrap material without moving the gun. Look at the pattern you get on the surface, then adjust distance and volume until you get the best looking elongated oval. In any case max spraying distance should be no more than 9 inches. The Wagner lacks a needle position adjustment, too bad. But adjusting volume and distance goes a long way to a good pattern.
40% water is in the ball park. If your coatings seem sandpapery, you may need to go a little more dilute or increase your spray volume, or get closer.
Be sure to keep the all-too-tiny air filter openings clean. Almost all spraying problems with the Wagner is caused by clogged air filters. On my original model I had to remove a few screws to get to it. It was possible to peel off thin layers of the dirty filter material.
Also, the gasket between the tank and the gun handle needs to be kept very clean. In particular the slots in the gasket that pressurize the tank should not be glued shut. The tanks needs to be screwed on tightly to hold enough pressure for good flow. Best to avoid getting the gasket wet with paint by holding the gun carefully. Paint on the gasket can be removed by rubbing under hot water.
Be sure to thoroughly clean the gun right after each use. Spray hot water with the max flow adjustment, thoroughly rinse the spray head with hot water, and an occasional extended soak is a good idea.
Look out for little skinned-paint circles that will form on the nozzle between passes, those will mess up the pattern and will wind up about 1 foot into your print if you don't remove them,
Typically, Lowes & Depot do not stock replacement filters or gaskets! But I think you can buy them online.
BTW cheap 3M #8511 masks are a good choice for lung protection, of all the ones I tried those are the only ones that don't get soggy, don't make you feel like you're in a sauna, and don't blow steamy air onto your glasses. But in any case don't spray without a mask, the effects will creep up on you suddenly and it ain't pleasant.