Steven Gerard admits Rangers will only dip into the January market if they can move enough players on.
The Ibrox boss has repeatedly stressed the club's priority is trim a bloated squad via loans and sales this month.
Eros Grezda and Andy King have already left and they could be joined by the likes of Matt Polster, Greg Docherty and Glenn Middleton, who is set for another loan.
Gerrard expects "three or four" players to depart the club, with one addition a possibility as he works alongside sporting director Ross Wilson .
Gerrard told Sky Sports : "We've got things bubbling away in terms of players going out on-loan to play football.
"I think that echoes and back up what Ross has said about trimming the squad. We have to be fair to players who haven't played as much but are training well, being professional and doing everything.
"But we're just overcrowded in terms of numbers, so we'll be respectful and try and get them the right move so they can go and play football.
"I think, come the back end of January, you'll probably see three or four go the other way.
"And, depending what happens in terms of those three or four, will depend on maybe add one.
"But there won't be much activity in terms of incomings, that's all I can say.
"I don't want to give names, in terms of ins and outs, but there will be ins and outs, that's all I can give you."
