I followed the directions to set my new lock and it did not work. So I am locked out of my new master lock speed dial 1500iD.

SOURCE: Master Lock luggage lock

This PDF document explains it carefully -

http://www.masterlock.com/faq/pdf/620_630_646_647_Instruction_Sheet.pdf

Hope this helps.

SOURCE: I WHANT TO RESET MY MASTER LOCK , WHAT STEPS I HAVE TO FOLLOW?

Instructions:
Opening the key storage
compartment door
1. Open shutter door to reveal the dials
and the release button
2. Rotate dials to the current combination
(if the lock is new, the combination is set
at the factory to 0-0-0-0)
3. Press down on the release button
to open the door
4. Pull the door fully open
5. Add or remove keys
6. Close compartment door
7. Scramble the combination dials to lock
the door and conceal your combination (A)
8. Close the shutter door (B)
To set a new combination:
The initial combination is set at the
factory to 0-0-0-0
1. Open the compartment door
(see instructions above)
2. Push the reset lever left and down.
The lever remains in this position
3. Rotate dials to your desired combination
4. Push the reset lever, up and right, back
to the original position
5. Close the key storage compartment door
6. Scramble the combination dials to lock
the door and conceal your combination (A)
7. Close the shutter door (B)
To hang shackle model
1. Open the compartment door
(see instructions above)
2. Push the shackle release lever to the left
to open shackle
3. Pull the shackle up and out of the lock
4. Place shackle around door knob or other object
5. Close shackle to lock
6. Close the compartment door
7. Scramble the combination dials to lock
the door and conceal your combination (A)
8. Close the shutter door (B)
Reminder:
(A) The release button will open the lock
until you scramble the dials
(B) Keep the shutter door closed to increase
weather resistance and to conceal the
dials from view

SOURCE: i bought a master lock speed dial lock how do I

I was give'in one for my birthday... I had to return it and get a new one. There is a number on the package to contact master lock, you might try that as well...

SOURCE: My friends were messing around

Make your dumb friends find the code or buy you a new lock.
there is not trick to it... it'll have to be done by trial and error...
Sorry for your troubles.

SOURCE: Forgot combination to 1500id master lock how do I

The only thing you can do is to disassemble it. There's a couple of screws with triangle shape. Those are easy to get out with a torx screwdriver. Then you need to take the one in the middle with a flat screwdriver and a hammer. Why? Because the head of the screw is cut in half, you cant turn it CCW to open it, only CW. Give it some hits with the hammer and the screwdriver to open it. After that,open the lock, and you have to set each gear and plastic part in the home position. Just be patient and set everything in place. You have to turn some parts so everything fits right. Remember to pass the lock to "reset" position. Afterwards, assemble the lock and close it. It will be unlocked.