It's hard to imagine without the floating compass needle, just visualize a magnetized compass needle sitting on an axle centered above the "compass rose". Then visualize yourself holding the compass (somewhat level) and have the body of the compass pointed the "right" of North .... the compass needle will still be pointing North but the compass rose will be rotated such the "North" end of the needle will appear to be in the quadrant of the compass rose marked with the "N" and the "E" ... you will be facing the North East. If you turn and point the compass body in a Southerly direction (Southeast or Southwest) the South end of the needle would be what you read.
Compass reading can be really affected by exterior magnetic attractions, not only whatever ferrous metal objects you may have on your person, but also fences, tools, vehicles, etc. ... but also can be affected by such stuff as iron ore rock in the immediate vicinity. We do have that here in my neck of NE Texas. Surveyors no longer depend on magnetic compass instruments for their survey projects, but they are still handy when doing preliminary recon. Still really useful tools, after several centuries.
Oh, to make it even more complicated - Magnetic North isn't True Polar North ... the magnetic pole of the Earth is quite a ways South (Southeast as viewed from my location) so available certain charts (Isogonic charts) need to be referred to calibrate the compass for your location for accurate (respectively speaking) measurements to be made. Also, over time the magnetic pole "wanders" so that also has to be taken into account when trying to make relatively accurate, reproducible measurements.
jd
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It's not gun control that we need, it's soul control!