With solenoid facing you, the large terminal on the left is the battery feed. The small terminal on the left is the start signal wire from the ignition switch. The solenoid should be mounted to ground - frame or an aluminum panel that has good ground via the rivets. The right side large terminal goes to the starter and the right side small terminal on the front is for a voltage boost to the coil during "start" if you're using an old-school coil with a resistor wire that only runs 7.5v-9v during run - it gives a boost to 12v when the ignition is turned to "start." If you're running a capacitive discharge (i.e., Pertronix) ignition with a matching coil, then you don't use the small right terminal.
No cover.