It looks to me that the draw length is a little long but the biggest problem I see is your anchor point is too low. I think this is because the distance of your peep to center arrow is too far. That is probably why your sight is too high.
If you move your peep down it will bring your sight down and youranchor point up.
To get a perfect size on your D loop, cut your string 41/4 inches, then burn knots on the end of the string, then tie.... It's a pain to work with it that short, but it will give you a perfect loop size everytime.
Thats how I do it, I even start with it slightly shorter, my finished string with melted ends is 4in.