Water regulating valve?

[cliff seary]

Should the red cap be screwed all the way down like the Rave Valves?
Thank you
Cliff

 

[tobytd]

Three full turns out. Starting from all the way down.

 

[Chester]

You can adjust it for your preference. Experiment with it by watching your RPMs at different settings. All the way down will give you better top-end speed and flush with the top will give better bottom end.

Chester