Much of that call is going to depend on the ramps you are using. Just how deep the back of the trailer is when the front of the boat starts floating is going to depend on how steep an angle the ramp has been built at. More modern ramps are not nearly as steep as some of the older ones for instance. Ramps influenced by tides are generally steeper than inland lake ramps in my experience.
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For a starting point, with boat on trailer, the bottom of the guide should be positioned a couple inches below the rub rail.
The top of the guide may or may not extend above the top of the gunnel, again depending on the depth of the water at your launch ramps.
So for some boats and ramps, you may only need a 12" tall guide.
But for much steeper ramps and deeper water, you may need a guide that is up to 4' tall.
Ideally, you would want the top of the guide to touch the rub rail as the boat is floated onto the trailer.