I believe the boat has to be fully stopped for this method to be somewhat accurate. Could this be the issue? But even if it works i found this method to be pretty unreliable. There are other methods to get the targets speed. You can use the ships lengh from the recognition manual for example and put in the speed in the tdc manually.
Or you could mark the targets position on the map two times and use the "315 mehod" or simply measure distance for 10 minutes multiply by 6 and you have the speed in km/h. There are charts in gwx mod on the top left of your map for speed calculation. If map symbols are on, these methods are pretty easy and very accurate. Hope this helps!