Hold onto the rod. How else are you supposed to know if the lure is running right, got weeds on it, tangled with another lure, hitting bottom, ect. Plus you are missing out on one of the best parts of catching fish. Feeling them crush the lure.
Rod holders in my boat do make pretty good arm rests for trolling.
Agreed, we open on Leech Lake every year and one of my special techniques is to start trolling #5 shad raps just at dark to maybe 10:00. By holding your rod you get an idea of the bottom, where your lure is (I fish the 5 – 7 foot rocky shorelines), and if course the feel of that strike when they smash it. Plus by holding the rod, it’s one less thing you have to worry about, just put the motor in neutral and have someone get the net!