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Why would you?
Don't know about right or wrong, but it's my understanding that a knot in a rope, line or cable will reduce the tensile strength by 50 percent. Maybe bow strings are different...
Don't do it!!
With synthetic, it's way more than 50%
I've done it for short term, to experiment before i went thru the trouble to remake a string. I think using it long term, except on a light bow, is inviting problems.
Change the braceheight by adding or removing twists. To adjust braceheight, unstring the bow, remove the bottom string loop, and then twist or untwist the string. If your braceheight is too low, give the bowstring two twists to increase the braceheight by about ¼ inch. If your braceheight is too high, unwind a few twists from the bowstring.
Growing up without any knowledge of archery or how things were done, that's how we shortened our bowstrings but it caused them to break after a while.