Bearing in mind I'm relatively new to archery, I keep my sight extended out as far as it will go for a couple of reasons:
- The weight of the sight isn't that much when compared to the forward weight introduced by the longrod (and doinker). If it's of concern, V-twins can be used to move the weight back.
- Keeping the sight arm at the same length between all shoots reduces complexity and the chances of confusing yourself (the KISS principle). I find there's enough potential for things to go wrong without adding to them.

- The closer the sight is to the target, the more accurate your aiming will be. Conversely, this will also make the sight picture move around more (but we're not talking about 2ft long sight arms here
).
It's the potential for accuracy and the reduced complexity of moving the sight arm that are my primary reasons.