The Gunners were beaten 4-0 by Southampton on Saturday afternoon.
The Gunners are currently second in the table behind surprise leaders Leicester City, with just two points separating the two sides.
They signalled their intent to be challengers with a big win over Manchester City on Monday, although they were beaten 4-0 by Southampton on Saturday evening.
Optimism is high at the Emirates Stadium that the title could be theirs come May, and speaking before that demoralising loss to Southampton, Arteta urged his side to be realistic in their expectations.
“There is a lot of optimism at the moment and you can feel it around the crowd, at the stadium, at the training ground and among the players, but we need to be realistic,” he told arsenal.com.
“The team is showing great desire and great unity to go and silence those people who say we don’t have a chance."
"We’re in a good position, a strong position. We know we have the quality to do it and we want to do it, so we just need to keep our focus.”
If Arsenal are to win the title, they will surely need their big stars back fit sooner rather than later.
Injuries have plagued Arsene Wenger’s side this season, with Arsenal losing the likes of Francis Coquelin, Santi Cazorla and Alexis Sanchez for extended periods already.
Those are all first team players, and though the rest of the squad have stepped up and done well, having them all back for the title run in as soon as possible would be a big boost to the Gunners’ hopes.