Wolverhampton Wanderers lost 1-0 to Huddersfield Town in their most recent outing.
Coady started for Wolves in their game against the Yorkshire side, but he was unable to help the Midlands club break out of their slump.
The former Liverpool man was energetic throughout, but Wolves simply could not find a way to break down Huddersfield and they were made to pay.
The Terriers scored a 79th minute winner through Nahki Wells, and Coady admits that his side were gutted after the match.
“Everyone was down in the dressing room after the game – the chins were on the floor because you are always disappointed to lose," the midfielder said.
“It is a situation where we know we need to put things right as soon as possible and have to start that on Tuesday."
Wolves are under pressure to start turning their poor form around, but they have struggled for victories recently.
Kenny Jackett’s side have failed to win any of their last five matches, and they have dropped down to 13th place in the Championship table, as a result.
Wolves were tipped to be one of the favourites for promotion before the campaign started, but they are now 13 points back from the play off spaces.
Jackett’s men’s next match comes against Brentford at Griffin Park on Tuesday evening.