Atletico took the lead in the Champions League clash at Anfield following Maxi Rodriguez’s first-half strike.
Liverpool skipper Gerrard was ruled to have been fouled by Mariano Pernia and was given a penalty on injury-time. Gerrard scored on the penalty and made the final result 1-1.
The penalty award sparked huge protests from the Spaniards and Gerrard admitted he understands their frustration.
“I think we controlled the game but first half we weren’t good enough,” said the skipper to ITV. “We raised it at half-time and it finally came in injury time.
“I’m not sure it was a penalty. I got their first and I think if that is outside the area you get a free-kick.
“If it happened at the other end we would be livid. That’s football. It’s a point and we move on.
“It is important because we have got a point. Good teams don’t usually lose two in a row and we showed a lot of character.”