His side have not won in the league since December 4 when they beat Sunderland 2-1, taking just four points from their last nine games.
That has left them second bottom, three points ahead of Wigan, with McCarthy coming under increasing pressure to deliver results, starting against QPR at Loftus Road on Saturday, and McCarthy said: "There's no magic formula for it, there really isn't."
He added: "We've just go to go down there and try to win the game, as we've done all season. I've had a magic formula here for five years. I got us up, kept us up, it's been great, but it's not something you can click your fingers and change it.
"It really just demands hard work, a performance, don't make any mistakes and don't get beaten in the first instance. That would be a good starting point.
"If I've got an instant remedy for it, it would have been done and sorted out so we need a response don't we? The club need a response from me, from the team, from the group of players, so that we can get a result."
Wolves have leaked six goals in their last two Premier League games against Liverpool and Aston Villa, prompting McCarthy to bring in Tottenham central defender Sebastien Bassong on loan until the end of the season.
However, McCarthy refused to blame his squad despite his obvious frustration about the way they have conceded goals, and added: "I'm not going to sit here and point the finger of blame at all the players and say it's individual errors all the time. It has cost us on a lot of occasions, of course it has.
"The best performance recently was against Villa and we still contrived to lose that game (3-2), which was crazy in the extreme.
"We've managed to concede a goal from almost every conceivable position; when we're on top, when we're defending, when we've had a corner kick and it ends up in the back of our net. It makes life difficult."
Source: PA
Source: PA