I have used 4 different set ups.

1. I have one like you have that is on the string at a 45 degree angle when the string is at rest. The string is seperate into two halves and hold the peep. Then when you draw the string back and it is a 45 degree angle the peep is perpendicular to your line of sight. I like this type for target shooting. I can use varying sizes to meet my fancy. The secret is to get a string that won' t stretch!

2. There is a peep sight that lays flat (or perpendicular) to your string. The string is split in thirds or fourth and go around the peepsight to hold it in. This style is more condusive to your style of string which stretches. The string can stretch and twists and you will still be able to see out of it regardless of how it comes back. I used this for hunting before I got a No-peep.

3. The string style uses a rubber cord to align the peep as you draw back the bow. The disadvantage is the rubber could break

4. No peep. It is an alignment device that does not utilize a peep in your string. The no peep ensures a consistent anchor point while verifying you aren' t torquing the bow. It mounts to the riser next to the sight. It is hard to explain but it works very well

Out of all 4 styles I use only two. One for target (3D) and the other for hunting.

Target: the first style peep I described. I believe the brand name is fletcher. I use the small size

Hunting: NO-peep. Low light conditions are not a problem. I get good accuracy.