I was having a nightmare of a time with performance loss –
32 gb ram, gtx titan gpu, amd phenom 6core – but then like an idiot I realized that I had the ‘Proxy on the Fly’ selection check-boxed.
I believe this writes cached files of the media as it plays to theoretically allow for faster playback later on. The problem is that it has to constantly re-write if you are still working on a project, so rather than just reading the media, fps was caught up on writing it as well.
Check to see if ‘Proxy on the Fly’ is selected. If it is, try de-selecting and see how your performance increases. I was working on a 5k feature shot on Epic. Performance was down to 8-12 fps with only five or so nodes and an alpha on each clip. Unchecked ‘Proxy on the Fly’ brought my Red playback up to 20fps instantly.