The Magpies are just one place above the relegation zone after suffering three successive defeats in the league to Bury, MK Dons and Swindon Town, with Port Vale coming up.
“We are not taking opportunities at key moments in the game and when they have gone begging, the tide has turned in matches a bit,” Stead told the Nottingham Post.
“That’s when we are coming unstuck. The manager has pointed out those chances we are getting need to be taken.
“We’ve had a little bit of bad luck with some decisions along the way, but you get them so you can’t moan too much.
“We need to get that killer instinct and ruthless streak into our game and when we do we will be putting teams to bed which will give us more confidence in the way we are playing.”
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