both are right (i think). i believe what you've got is a convertible toe strap...which means it can either be worn on the tip of your boot or on top. but most will agree that they feel more response from the toe strap being worn on the tip, rather than the top. so that's my suggestion. and i could be wrong about it being convertible, it might just be the type that you wear on the tip.
just make sure you tighten it down good so it doesn't slip up while you're riding.