Your machine is set to 50% in this picture, and your unit is set for lift start. Your frequency looks a little low...but that won't fry it. You don't have a true ball, so I'm guessing you may have one (or more) of the following issues:
1) Torch is in wrong port. It should be in negative
2) Using the same or similar gas you use for your MIG. You can only use 100% pure Argon for TIG
3) Contaminated gas...causes same issues as having wrong gas. T he smoking inside the cup would suggest bad gas.
4) Gas is not flowing. Tap switch with post flow turned up, do you hear the gas coming from the nozzle. (Don't put it to your ear though as tungsten can hurt, and if you accidentally tap the switch on the torch, your eyeballs will fly out of your head.
5) You have a draft blowing your gas off the weld. Move the welder off the table so a draft will not disturb it. TIG is very sensitive to the slightest breeze.