The SAAMI standard chronograph protocol calls for the middle point between the screens to be at 15 feet (5 yards). If you want to compare your velocities with commercial ammunition or published load data, that is the distance a domestic company will have used. They will usually have used a SAAMI test barrel of a specific length, so if your barrel length is different, you will have to allow for that.
You can do a coarse calibration check with 22 Match ammunition in a rifle with a barrel at least 18" long. 22 LR burns all its powder up in a rifle barrel, and in a longer barrel, it doesn't lose much velocity after that burn-up point. As a result, most 22 LR rifles will fire match ammunition to within ±50 fps of the velocity published on the box. If you run this test and get a bigger difference than that, you are likely having a chronograph issue. For optical chronographs, 99% of the time, this is due to light conditions (see next paragraph).
The best way I've found to work with an optical chronograph is to buy their IR light source kit, run it off batteries (or with an inverter on a motorcycle battery if it needs AC power), and shade the instrument from natural light. The Oehler does well with natural light, but even it can have issues in extreme enough light conditions. I notice Caldwell now sells a more expensive unit that operates off IR by inverting it so it gathers light from below. You could adapt the lower price unit to do that, as long as you are willing to read the display upside down.
I have set my two optical units (Oehler 35P and CED Millenium) up at as much as 100 yards to measure velocity loss in rifle bullets. As long as it is far enough from the gun to avoid muzzle blast effects, it should measure the bullet going over it. In the case of the long distance, though, the rifle needs to be tested to hit the middle of the bull behind the middle of the screens, and the grouping should be small enough not to be likely to damage the unit.
Other optical chronograph tricks include:
Making a black tunnel to set the chronograph up in with its IR screens. This really kills all outside light interference pretty positively.
Laying some black material or plastic under the tripod to prevent light glints and reflections from the ground. This usually is unnecessary on grass, but if you have a bare dirt, sand, or gravel range, false triggering from ground-reflected light can be an issue.
If you are shooting off a rest, set the cleared gun (bolt out of a rifle, cylinder open and empty on a revolver, slide or bolt open and empty chamber indicator in place on self-loaders) up on the rest so it is aiming at the target. Pul a laser bore sighter into it and turn it on. Go out to the chrono and shift and angle it until the beam passes through the middle of the sensing areas. Put your palm in the middle of each screen area to see the beam location.