The preferred posture is to stand upright with your bass strapped.
For a relaxed standing position, place your feet at a comfortable distance, the toes pointing outward to improve stability, knees flexed minimally. In this position, you will feel the rest of your body assume correct posture automatically. The abdomen is stretched, the pelvis is turned backwards, the shoulders are dropped, the chest is widened, the neck is stretched and the chin drops a little. The arms dangle away from the sides. Breath control becomes more easy.
This does not mean standing for a long time is healthy. If you have the opportunity to move around a little when playing, take it. Another option is to sit on a stool with a saddle seat at the highest position still allowing you to keep your feet flat on the floor. With some more attention - it won't come automatically this time - you can reach a position similar to standing.
Do not bend over constantly to watch your fretting hand. Make corrections by ear, not visually. Sit or stand up straight, let your shoulders hang down to the rear, elbows away from the body. Keep your chin a bit low and stretch your neck properly. Breathe deeply and quietly.
We all know the nerves that come with auditioning, taking lessons, gigging with a new band, recording etc. Some people are experiencing these problems more or less constantly. If these problems become persistent, they will make it very difficult to relax. Inability to relax may result in strain injuries. Breath control is important to be able to deal with nerves. The exercise in the video or these two more simple breathing exercises will develop complete breathing.