Last week, I found myself at the centre of the transfer deadline-day saga, a bizarre experience. My movements in and out of Portsmouth's Eastleigh training ground were broadcast on Sky Sports News, suggesting I was involved in transfer talks with the club. In fact, I had just come in for some treatment on my knee.

As the physio worked his magic, the lads crowded around the TV. "David James arrived at the Portsmouth training ground at 10 to nine this morning," said their reporter. "Will he be negotiating a transfer move away from the club?" We had to laugh. I hadn't asked to leave the club and, yet, here I was being tracked. When I left the ground, the reporter wondered whether it was my final exit. Actually, I was just going to collect my son from the train station – I'd even worn my training kit to make it clear I wasn't leaving for good.

Had there been offers from other clubs – a case of that old classic, "couldn't agree personal terms" – there would have been some logic to the coverage, but there was nothing of the sort. I kept thinking: "Is there something going on I don't know about?"

Despite not actually going anywhere, it was still an intense transfer window for me because I knew so many of the players involved in last-minute moves. It was the first time I'd ever been so close to the action and it did create a level of uncertainty among the players and staff. Every two minutes I was being asked, "Are you going?"

It is a genuine relief to close that chapter and get on with the rest of the season. I know a lot of people are expecting us to struggle and I've heard the pundits say it is a foregone conclusion that we will be relegated. But I remember the same things being said the year I joined Portsmouth. It all feels a bit like starting over.

We have got used to thinking of Portsmouth as a success story – FA Cup winners, mid-table finishes, a European tour – but I'd argue it is more a case of avoiding relegation twice in the past four seasons. Had it not been for Pedro Mendes's goal against Manchester City in March 2006 – I let that one in and signed for Pompey a few months later – we might well have ended up in the Championship. So this talk of doom and gloom is familiar.

To be honest, last season was pretty scary. The turnover of managers didn't help, losing Harry Redknapp so publicly and then appointing and dismissing Tony Adams before Paul Hart came in at the last gasp. We had too many campaigns on the go – Europe, defending the FA Cup, plus the League Cup and the league – and we didn't have a big enough squad to cope with it. Our league form suffered badly and we got drawn into a battle against relegation up until the last couple of games.

For now, we're bottom of the Premier League, but there are 34 fixtures to go. We can't afford to waste any more points, starting against Bolton (who are also pointless) on Saturday, but we're definitely not dead and buried. Apart from the 4-1 defeat away to Arsenal, we've played three other league games and lost them all 1-0. We have a lot of potential. The players coming in have a good level of enthusiasm because they have a real opportunity here. I can relate to that. When I first signed, it was seen as a bad career move, but Portsmouth has been great for me. The players joining us who have never played Premier League football before will be absolutely buzzing. This is their big chance to show why they should be here.

Another problem we experienced last season was the dressing room. In my first two years at Portsmouth, we had a lot of good banter – I don't mean pub banter, we didn't go out and get smashed, we simply had a great rapport. But last season that was severely diminished. Somehow we lost it, suffering a big hangover after the FA Cup. The expectation levels were unrealistic I suppose and I blame myself for that, too. As a player, you get carried away with the euphoria of winning a trophy, you anticipate that, with new additions, you can only get better. It didn't happen.

This season, the banter will be crucial and it's already started. Someone stuck up pictures of Michael Brown and Roger Daltrey last week – have a look on Google images and you will see the similarity. Michael popped his head around the analysis room after that. I said: "All right Roger?" He replied: "I don't know who did it, but it will come out," with a huge smirk on his face. I can tell he's scheming already, which, in football dressing-room terms, is generally a good thing. Camaraderie will be key to our season.

I have to say, I am genuinely excited about the challenge ahead. Of course, I'm not doing cartwheels about the situation the club finds itself in, but I do feel positive about the contributions the existing players can make. We have a new owner and we have a manager – it's a solid foundation from which we can crack on and get back to being good again.

This is veritable Pompey territory: it's time to start scrapping.

David James has donated his fee for this column to charity.