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Im having the exact same problem!!

There is a small metalliac button where you insert the battery in the Heart Rate monitor strap. I have pressed it, but still no action. How long does the manual say to press it for?

I purchase a new Timex heart rate monitor to replace the one I lost and now I can't get it to work with Timex M584 IronMan Triathlon watch. I have tried removing the battery then replacing it back into the Monitor..Nothing! I have searched the monitor for reset button..Nothing! I have searched the internet for problem solving. This is the last resort!!! Help!

I have given up on mine!

Send it back and disregard buying timex in the future!

The reset is usually a small hole next to the battery in the watch. Once a new battery is installed (the reset will usually take care of itself if the battery is left out for a few minutes) use a small metal object such as a straightened paperclip and insert into the reset hole. Inside the correct hole, although very tiny, you will see two brass colored strips that need to be shorted together. Insert metal and move around a bit and the watch will short.
Hope this helps!