The London club squandered a two-goal lead to draw 2-2 against Steve Bruce's side at Craven Cottage on Saturday, a result that ensured they remain third-bottom of the table.
Goals from Ashkan Dejagah and Fernando Amorebieta put Fulham in command just before the hour-mark and they looked set for three precious points before the FA Cup finalists denied them.
Nikica Jelavic pulled one back with 15 minutes left and fellow January signing Shane Long snatched a point just three minutes from time.
Magath has now set his sights on victories against Crystal Palace and Stoke City in their final two matches, with the German coach believing six points will keep them in the top flight.
"We have to win the last two games," he said.
"We lost two points today that was not what we wanted but as long as there is a chance we have to take it.
"Now everyone is clear that we have to win the next game. I'm sure we can get two more wins."
Magath felt that everything was going to plan before his side's collapse and stated that they only have themselves to blame.
The 60-year-old added: "It was very disappointing how the second half came up because things were going as well as we hoped.
"We had 0-0 at half-time, which was not bad, and then we wanted to go forward more and take more chances.
"It worked very well and we scored twice, so it seemed that everything was alright, but unfortunately we made more or less an own-goal (Jelavic's goal).
"We missed the victory and that is disappointing because if you are winning 2-0 at home you have to win."
