I use the evil ENO slap straps so I hang as high as I can but leave some slack. Usually a little above head high.
i hang 12" off ground. any higher Kaia knocks me out jumping in.
"Tenting is equivalent to a bum crawling into a cardboard box, hammocking is an art" KK
I like mine where the edge of the hammock hits near los calsones. That a little bit south of Ur-nalgas.