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It won't leak no matter what position it ends up in. It all depends on how the threads are cut on the valve and in the oil pan. Mine has the lever facing the front of the truck. Inside is a ball valve that doesn't care where it is oriented. Make sure you don't over torque it. Remember the pan is aluminum and the valve is brass. Both soft metals! Fumoto says 22 ft lbs for that thread size which is snug but not too tight. I did mine like I would a stock drain bolt and it's been on for about 3 years now. I don't have the plastic clip and never worry about it. When closed it's locked in the closed position. I don't have the cap on mine either. No need for it. I just wipe it clean and slide a vinyl hose over it. The other end into an empty oil jug and open the valve. Voila a mess-free oil drain.
Agreed, the Fumoto valve lever will end up positioned differently on each engine. As shown on mine (6.2L) lever points to center of engine (away from camera and above RCI skids). I did use the fiber gasket furnished with the valve and tightened sufficiently without overdoing it. I did buy the optional (black) security sleeve and have a short capped length of clear hose on the barb - even though neither are really needed. When in doubt, overkill (but don't over torque)...