Hi, your Omega is 1958, not 1954. ( big hippocampus logo start at 1958) Try to restore the hands, is not expensive and will give your watch a new fresh face.
Date set by changing 23 - 24 h. Check power reserve first, caliber 503 has 46 h.
Try with another watch maker, is not expensive buy spares or a 503 movement for take replacement spares.
Good luck.
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