Okay dude, welcome to the school of hard knocks!
Rod knock happens when you run the motor low on oil. This causes the parts to wear out extremely fast. Usually by the time you hear rod knock your motor is at death's door. It has absolutely nothing to do with timing and combustion. Its the crank and the rods smacking the shit out of each other. Say bye bye to engine.
The other knock should rather be called ping. This happens when you use a low grade/low octane fuel in your car, when it is designed to run with a higher rated octane, like a turbo supra running 87 instead of 91+. Usually this happens only during predetonation. The knock sensor detects predetonation because it produces vibrations in a certain range that the knock sensor can detect. When it does detect the pinging of the engine, the ecu retards the timing so as not to damage the expensive engine.