The hard base is where you will hold the threaded rod that would work as the arcade stick (top base), and another of the hard base (bottom base) is what will hold the contacts that will detect the movement. This can be anything you have at hand, in our case using a small tupperware / lunchbox was the best option
Cut a hole of the area that you want the stick would be able to move, at the center on the top base
Drill a hole in each of the corners of the top base, this is where each one of the 4mm bolts are going
Adjust each one of the 4mm bolts in the corner holes, looking up.
Slightly adjust the threaded rod with a washer and nut from top and below the top base
Hookup a rubber band between one threaded rod, below the top washer and one of the corner bolts. Then go to the opossite side and hookup another, and another till you get the desired tension in the main rod. If the rubber bands are too large, you can twist them to have more tension