The Hoops boss has helped his side move eight points clear of the relegation zone with a run of three back-to-back Championship wins, following on from a dismal streak of six consecutive defeats.
Holloway has said that he is hoping to strengthen this month but the lack of a loan window from this season means that he has had to adjust the type of players he is targeting.
"It's the first time the window will slam shut and then you can't go shopping," he told the Fulham Chronicle. "You've got to buy long-life bread and long-life milk.
"It's the same for everyone. I have had the clearout. I feel some are better off going somewhere else.
"The fans may think I've taken too long but it's important to give everyone a chance and move things forward."
The Hoops have already brought in winger Kazenga LuaLua on loan and have also been linked with moves for Everton striker Arouna Kone, Rotherham United striker Danny Ward and Manchester United midfielder Sean Goss.