The club brought in five signings but missed out on a handful of targets towards the end of the summer window. Lage made it clear last month that he wanted three or four first team signings but only Hwang Hee-chan arrived in that time.
Some supporters were left disappointed at no centre-back or centre-midfielder signing, but Lage insists he wanted quality above quantity.
When asked for his thoughts on the window as a whole, Lage said: “We bring in top players to help us and it was important, with the Adama (Traore) and Ruben (Neves) rumours, and they stayed.
“In the end it was good and now we continue to work. We have the players in our mind to bring to Wolves and now we wait until January to bring those players to us to improve and create competition.
“It’s a long project and I have a contract for three years.
“I don’t have any reason to not trust him (Jeff Shi). He was the man who hired me and our relationship is open. When I arrived the proposal from the chairman was to change the way we play.
“I analysed the squad and I created a profile for the positions we need to improve. When I talked to the chairman I just said, from my point of view, what the team needs. Top players to take the next step.
“We also need to understand that Jeff, as the chairman, needs to consider the club’s finances.
“We tried to do our best and it was very clear what the team needed.
“I have a good relationship with the chairman and we worked hard to improve the team. I wanted the players with the right profile, the top players, but we didn’t have the chance to bring in the top players.
“I’m very happy with my players. I want top players to create competition in every position.
“This is why I took the decision on the last day not to bring players just to fill the squad, I don’t want that. I want the right players to help us become stronger.
“That’s why it’s not a problem to keep going with 18 players plus the three goalkeepers, because they are working hard and they are top players.”
Meanwhile, Gibbs-White left on deadline day for Sheffield United on a season-long loan, with Hwang seen as his replacement in the squad.
Lage says he wanted to keep the 21-year-old but his desire for more first team minutes is what pushed through the move.
Lage added: “I prefer him to stay but I need to respect the player and Morgan wants to play more. I respect, a lot, that ambition.
“I can give chances to improve in training but I don’t negotiate about time on the pitch, so I couldn’t make the promise and in the end the club and him took the decision to go on loan.
“The way he work and played for us in the games, and in Nottingham, I can see it is also a good decision for him and he can improve.”