Polar FT4 Users

I need some help, guys!
I got my FT4 in the mail today and was all excited to use it. Problem is...It isn't working.
I wet the mesh parts of the chest strap like the instructions said, put it right about where my sports bra hits, and it kept reading about 47-50 and then would go to zero. It did that back and forth for a while.
I tried moving it down a little, up a little, wetting it again, everything I could think of.
Any ideas?
Also, does anyone know if the built in HR monitors on the machines would do anything to it? Because that kept reading 50 as well. Even when my hands weren't on the sensors, and I've never had that happen.