The Bolton manager is keen to add fresh faces to his team to enable them to continue their rapid progress which has seen them go from relegation candidates to European chasers in the space of two years.
Allardyce says that he is once again expected to work on a tight budget as has been the case in previous years, that said, he is keen to get the right quality of player for a price which suits the club and will improve his squad further.
"Whether you are winning, losing or drawing, whether you are bottom of the table or at the top, if the right player comes along, you want to be in a position to bring him in.
"It depends on the player, of course, and whether you think he will make a major impact for the rest of the season." Allardyce said
Whilst all the talk is about the Wanderers looking to bring a couple of players in, Big Sam has also refused to rule out the possibility of players leaving the club, whether it be on a temporary or full time basis.
Squad players Florent Laville, Blessing Kaku, Joey O'Brien and Jason Talbot have all been loaned out in recent weeks, whilst Michael Bridges has departed the club on a permanent basis.
"There's always a lot of interest in our players from the leagues below us, No doubt they will be on the phone if I see it necessary to juggle things around."