Dynamic balancing refers to the tire in motion.You need to find the heavy spot but this is not always in the middle of the tread. It could be one one side of the tread. Or there may be two heavy spots. This can get tricky.
Basic instructions to get started:
It will take some time to get a feel for how this works.
Spin the wheel with no weights on it. Notice if the unbalance is just up and down (shaking the car) or it's wiggling the steering wheel.
The wiggly steering wheel indicates the heavy spot is not centered on the tread and may require the weight or weights to be placed on the inner or outer or both sides of the wheel.
Start by placing a weight on the outside by the valve stem (you have to start somewhere
Spin the wheel again.Move the weight around the wheel. Notice where it is best and worst. When you find the best spot try heavier or lighter weights. Move the weight to the inside of the wheel. Try again.
Once you've done a few dozen wheels you get the hang of it.
It gets more complicated than just one weight. Sometimes you need to put one weight on the inside with another weight 180 degrees apart on the outside.
I learned how to balance wheels like this because the wheels on the Citroens I was driving would not fit on any balance machine made. I had no choice but to learn how to balance the wheels on the car.