He told BBC Radio Suffolk: "I'm wary of getting supporters' hopes up, I think I did that last summer so if anything I'm going to try and play it down.
"We've got two or three players in mind that we hope the club can do deals for, but I'd rather play it down than build it up and it not happen."
The Town manager said the lack of signings in the summer had nothing to do with misjudging the quality of player he can attract to Portman Road.
"Since I took the job all my targets have been realistic, I don't draw up people like Rooney or Ronaldo," he said.
"I think they're realistic targets in terms of transfer fees and wages. The two or three players I've drawn up I think are realistic targets."
Keane's squad is looking thin on the ground with midfielder Shane O'Connor and goalkeeper Brian Murphy - who underwent ankle surgery on Thursday - both picking up injuries before Christmas.
We're in need of creativity and a goalscorer and I think the kind of player worth having a sniff around would be Stoke's Tuncay
Joe
Keane is also without a recognised right-back after Gianni Zuiverloon was recalled from his loan spell by parent club West Brom.
But while the Tractor Boys could be boosted by the return of defender Gareth McAuley, who is back in training after an Achilles injury, Keane is eager to get his business done early in January.
"The sooner you get them in the better," he continued.
"With the games we've got coming up and the injuries we've picked up, we're down to the bare bones now because the four players we have on loan are not available for the FA Cup."
The Irishman said youngster Luke Hyam has had a setback in his return from a hamstring problem, adding another week to his recovery.
He also also confirmed former United goalkeeper Roy Carroll has been training with the club.
"He's a friend of mine from the United days," he said about the 33-year-old who plays for Danish side Odense. "He's having a week or two with us while he's on his winter break."
Source: BBC Sport
Source: BBC Sport