In practice using a compass is difficult and error prone. A sufficiently accurate compass is going to be expensive, and will still be prone to inaccuracy if there's any metal about (especially on your telescope).
In contrast the stars have very well known and calculable positions. On a good night, it shouldn't be very difficult to find 2 bright stars that you can match up with a sky simulator. For that you'll need to know rough positions of course. It's a good reason to learn your constellations and do a little planning before you observe.
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