The best way to install a peep is as follows.
Take peep out of packaging.
Throw packaging in garbage.
Quickly followed by the peep
I for one cant stand them and they do nothing to improve my accuracy.
They will also slow the arrow down atleast 5fps and if you use the tubing type atleast 15fps will be lost.
Instead look at getting the timberline No-Peep it will help you get a consistant anchor point and let you know if you are torquing the bow IMO alot better than that stupid peep specially in low light.