You are REALLY reaching there, as a result your body position is crossed up. Your spine should be more or less in line with the bike and you should be shifting more of your weight to the inside.
The purpose of hanging off is to let the bike corner faster, and you drag knee as a gauge of your lean angle. At the speed you are going in the video, its completely unnecessary. Work on proper body position first before you develop bad habits, and with speed the knee dragging will come.
Relooking at your vid, I can barely tell. What Disco is telling you is all true man. We should see more of your torso from that angle you have. It just looks like your putting your knee down as low as you can get it.