Tim Sherwood thinks it could be "dangerous" for Liverpool to add another player into their squad in January.
Jurgen Klopp's side are six points clear at the top of the Premier League table at the halfway stage and are yet to lose a game.
There have been reports that they might look to strengthen when the January transfer window opens, with Thorgan Hazard and Christian Pulisic mentioned as potential targets.
However, Sherwood, who won the Premier League title with Blackburn in 1994/95, said on The Debate: "It's really dangerous for people to think they need to add extra players. You can change the whole dynamic of your dressing room by doing that. They are in this position and I wouldn't sign another player.
"Newcastle did it with Faustino Asprilla [in 1996] and it was a disaster. We know what a good player he was, he almost changed the dynamics of how they played, but it didn't work out. If it ain't broke, don't fix it.
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"At the moment, I think the squad is strong enough, if they cope with injuries, to compete until the end."
Liverpool can strengthen their title bid further when they face rivals Manchester City on January 3, live on Sky Sports.
Former Liverpool and City striker Craig Bellamy thinks Liverpool's response to losing their first game of the season could be crucial.
"It's how they respond, those are the key moments," he said.
"I remember losing the league title on the last day at Celtic. Having that experience next time around with Cardiff in the Championship, it was like 'calm down, take one game at a time, just win the next game and don't worry about who we have got in three weeks.'
"I don't believe Liverpool will go unbeaten, they will lose one or two games, and I personally think Man City will win the league. I think Pep Guardiola would be rubbing his hands saying 'game on - last year, we won it so comfortably, now let's see what we've got'.
"They have a manager who is a serial winner so they have a lot of factors that they can look back on. With seven points to make up, especially over the Christmas period, you can get that back. Don't write Man City off yet."