Most YouTube videos recommend holding the kettlebell in the hook Olof the fingers like the picture under to allow rotation during exercises that require the bell to rotate like snatches and cleans. My question is, is there a problem with gripping the bell deeper in the palm like you would a dumbbell but keeping it loose enough to allow the bell to rotate? I grip the handle in the base of my hand/palm, but not death gripping, keeping it loose. Is hook grip necessary?
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Necessary? Not necessarily ;-).
Useful? Yes, depending on your needs and application.
I've always used the hook grip (always = 20+ years) because it keeps stress off the callus line at the base of the fingers and is generally easier on the skin.
However, with the popularity of A+A snatch training (short sets of 5 or fewer reps with generous rest between sets, but with heavier bells), I've seen a number of other people using a deeper grip. So I recently started experimenting with this and I have come to like it for this application (short, heavy sets of snatches). It takes less finger strength, which can be a limiting factor when the bells get heavy, and you can finesse it so that it doesn't pinch or put more stress on the skin. In fact, with heavy bells it can actually reduce the stress on the skin.
So I started using the deep grip as my regular snatch grip. But recently I've started to incorporate some longer snatch sets, such as Q&D 044 with a 15/2 reps scheme, which calls for two 15 reps sets with the same hand in succession, with about 25 seconds of rest between them. I've also moved up to a heavier bell for my 10/2 Q&D snatch work. And I discovered that as the sets get longer, the deep grip results in a lot more forearm pump than the hook grip. As long as my hook grip is strong enough to hold onto the bell, I can stay more relaxed through a longer set and recover faster between sets. I'm sure GS athletes discovered this long ago and that's why GS technique has evolved in the direction it has.
So currently for me, it's deep grip for heavy snatch sets of 5 or fewer reps with generous recovery and switching hands each set, but hook grip for longer snatch sets of 10 or more reps, and when doing successive sets on the same hand.