Chain sizing problem

I fitted this 8 spd nexus hub on an old road frame and found that if i remove two more links from the chain it will be too short..the hub axle would be on the end of the dropout, ideally it should be in the middle, yeah?

I've ridden it this way ..pulled back far as it goes & chain tension is good, but... i tried to fit mudguards & it just doesn't work like that.

One more chain link removed would be spot on, but ya gotta remove two then insert the master link

any ideas?

Cheers