McCoist has added seven players to his squad so far, with Ian Black, Dean Shiels, Fran Sandaza and Kevin Kyle dropping down from the SPL to the Irn-Bru Third Division.
He has also secured European talents Sebastien Faure and Anestis Argyriou and Brazilian defender Emilson Cribari, with more new faces set to arrive in the coming days.
Results have been mixed so far this season, however, and former Ibrox hero Steven admits he has been surprised by McCoist's transfer dealings.
He said: "These players are coming because they know the potential of the club, but that is all for the future.
"The here and now is winning tough football matches. I can't see why Ally has gone down that route particularly.
"He gets offered a lot of players all day long every day and has been for the last three months.
"He has got to try and balance the squad and have enough players of quality he feels can do the job. I think it is a higher risk, but it is perhaps how much he is having to pay salary-wise for players.
"Sometimes you want players who have experience of the country and the league and you can depend on them.
"Ally is having to make decisions pretty quickly. He has got to take a risk or two and believe in what he knows about a certain player and put the pressure on that player to produce.
"It is a great opportunity for anyone to come and play at Rangers."
Gers, meanwhile, face a trip to Highland League champions Forres Mechanics in the second round of the William Hill Scottish Cup.
Full draw: Cove Rangers v Golspie Sutherland; Fraserburgh v East Stirlingshire; Forres Mechanics v Rangers; Clachnacuddin v Formartine United; Civil Service Strollers v Turriff United; Montrose v Shotts Bon Accord or Edinburgh City; Buckie Thistle or Rothes v Annan Athletic; Berwick Rangers v Wick Academy; Selkirk v Vale of Leithen; Inverurie Loco Works v Huntly or Wigtown & Bladnoch; Deveronvale v Peterhead; Elgin City v St Cuthbert Wanderers; Dalbeattie Star v Stirling Albion; Queen's Park v Irvine Meadow; Stirling University v Bonnyrigg Rose; Clyde v Nairn County.
Ties are due to be played on Saturday, September 29.