A struggling Newcastle spent heavily 12 months ago in bringing in the likes of Mathieu Debuchy, Mapou Yanga-Mbiwa, Yoan Gouffran, Massadio Haidara and Moussa Sissoko.
But now with those players fully settled into the squad Pardew seems happy with the strength of his squad.
"I think we can be very calculated in this window. If you are in a good position, there is no need to rush anything," said Pardew.
"In the corresponding window last year, we really needed to do some business and when you need to do business, I think it is a difficult window.
"When you don't need to do business, which perhaps you can argue we don't, then maybe you can look at it in a more calculated manner."
A striker, and possibly a defender, remain on Newcastle's radar and Sky Sports understands long-term target Luuk de Jong remains very high on their wishlist.
Another previous target Bafetimbi Gomis is also still on their radar whilst they have also been linked with Dimitar Berbatov and Olympiakos' in-form front-man Konstantinos Mitroglou in recent weeks.
Newcastle are currently sat sixth in the table and Pardew is pleased with how their season is shaping up.
"The last ten games have proven our consistency, that we're a good side," he said.
"Whether we can be a great side, we will have to wait and see. We already have one more point than we did in the season when we finished fifth two years ago, so we're in good shape."