It is one of the most frustrating things, as the camera always positions the height from the height of the "confounded blinding yellow compass" :hehe:.
The best I can say is zoom in all the way, position the camera @ 20m past the track, using the KB arrow keys, tap zooming out @ 4 tapping clicks, and upward a tiny tap on the KB arrow keys ... sometimes you have to look straight down, and move the: "confounded blinding yellow compass" a hair forward or backward ... it is a real tedious chore placing static / rotating trackside cameras.
I prefer railfanning from: the cab view of MonkeyWrenchModels - drivable pedestrian / signalman / trackside lantern camera / or from another trackside loco or railcar that has a cab interior.