Both engines losing torque after takeoff

[alstr]

I bought this today and really like the look of it. The only problem is I haven't been able to get beyond a 1 mile radius of the airport yet...

I've followed the checklist exactly, getting everything set up and ready for takeoff. Shortly after I take off though the left engine loses torque and fails, followed by the right.

I have enough fuel, battery power, etc.

What stupid thing am I doing wrong?

[alstr]

Looks like I was red lining the engines.