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i do 90% or more of my muting with the left hand. coming from guitar- your fingers probably want to be arched all the time. while that is a good skill- try playing with your left hand flat on the fretboard- might help in some situations.
as for the three finger thing- i am anchored 100% of the time. as someone previously stated- on a four string- you should be able to reach everything just fine. maybe im just not used to it- but using three fingers- thumb anchored on the e feels weird and inefficient. could be wrong- but i would assume that to be prohibitive in the long run. | 
