Davies has seen his team surge to the brink of the Championship play-off places following four straight league wins - the latest of which came against promotion favourites Newcastle on Saturday.
"We have achieved nothing yet," said Davies. "We have to make sure complacency cannot creep in, under no circumstances. We have not achieved anything yet, it is still October.
"We can be pleased with the results we have picked up recently but there is a long way to go. The last thing we can do is allow ourselves to think we have arrived - because we haven't. We still have an awful lot of work to do.
"It is a very difficult game against Barnsley on Tuesday night - it might look easier on paper but it will not be. It will be a game against a side that has picked up some good results. We will have to show them respect and work hard to get points.
"When you win a league or get into a play-off position, it is the three points that you pick up against the so-called smaller teams that matter most."