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I don't ever let go of it - barring hamfisted accidents, it stays in the same place while I'm playing. If I need to fingerpick I just use fingers 2, 3 and 4...tapping is done using fingers 2 and 3.
Ed Conway & The Unlawful Men - Alt Prog Folk: The FaceBook and The SoundCloud
'Rope Or A Ladder', 'Don't Sing Love Songs', and 'Poke The Frog' albums available now - see FaceBook page for details