Timing + lumpy start

[m5 sjs]

Well after i timed the pump to 0.92 it does seem to run a bit better. However, i am still getting a lumpy start when the engine is cold in the morning. I need to hold the throttle on slightly for a short time till the engine clears,there is a small amount of smoke also when i do this. Does the coldstart need to work to get a good start,or is there something else? Could there be oil lying in the cyclinders or around the valves somewhere for the smokey start in the morning? I have fitted brand new bosch injectors and new glowplugs. Not too worried with these issues,but would like to know if something serious is going to develop?
Thanks for your help.
ps my engine is d24t.