No mine is different. I have a nut and then an acorn nut on top of the other. From what i gather you are suppose to use one nut to draw the collet up and the other is to tighten the drawbar. I end up having to give the acorn nut a good wack with my little 6/8 oz ballpeen and it pops downwell, I don't know if your 8530 has it, but mine has this cap. So the drawbar pushes up against it. But many times I have to hit my wrench over and over to get it to pop the collet. This just impacts it.
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