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I've posted a link to the manual below but as a general answer to your question; when you press HOLD the thermostat will operate at the temp you set using the up & down arrow buttons. It won't run the program. When you hit SET, this takes to to the programming and time set function. When you hit RUN it will run the program that's been programmed into the thermostat to automatically turn the temp down over night and when you're away.