Defender Kolo Toure's error playing out from the back led to the Baggies' second-half equaliser but the Reds' failure to capitalise on Daniel Sturridge's 14th Premier League goal of the season was just as much at fault.
"The manager told us that we tried to play football and that's the most important thing," Sterling told liverpoolfc.com.
"It's just one of those games where we lacked a little bit of concentration and they got back into it.
"Hopefully we can cut the mistakes out of our game and be right up there at the end of the season. We'll just pick up and go again for the next game.
"I still think we're right up there. We just need to take the game step by step and hopefully get the three points each week.
"Hopefully we can be right up there at the end of the season."