My book doesn't say anything about hot or cold. It says bring #1 to firing position and 1 3 4 8 exhaust valves & 1 2 5 7 Intake valves can be adjusted. Bring # 6 to firing position and # 2 5 6 7 Ex & 3 4 6 8 In. When all play is removed tighten the nut one full turn (360 deg). The first time I did it it was cold, the I did it again when it was warm.