What you read is the correct way, i.e. high up on your chest. Normally when sitting and standing the bass is in the same place does work. Since you are asking this question I assume you are just starting out and some of the fretting hand problem could be that your asking your fingers to do things they never have before - a little discomfort may be normal. Now if you are practicing for hours and hours you may want to cut back to 30 minute segments, 15 minute of rest, reading, etc. and then hit it for another 30 minute segment. There should be no pain.
Yes up high on the chest is were I have my bass. How high should you have yours? We all are a little different, find your exact spot. We have not talked about angle of the bass, or where your thumb is on the back of the neck, things like that I'd have to see. The thumb goes in the center of the neck, and the angle of the bass is where it's comfortable. I know that angle part did not help, but, could be important.
A month of lessons will help with all that gotta know stuff. Cost in my neck of the woods - $75 to $100 for four 30 minute lessons. If that is not in the cards the book Bass Guitar for Dummies starts out with how to hold the beast.
Good luck.