The left-back netted the opening goal as Ally McCoist's team defeated Clyde 3-0 at Ibrox yesterday. It was the ninth win in succession for the Gers and gave them a comfortable cushion at the top of the table.
However, Wallace still remembers the embarrassing results on the road against Peterhead, Berwick, Annan and Stirling Albion earlier in the campaign.
And he is keen for Rangers to keep up their winning run – starting in the Glasgow derby against Queen's Park at Hampden on Saturday.
He said: "We started the game sloppily and it took a while for us to get our usual fluency going. But, on the whole, I was happy that we got the win and it was a bonus for me to get the goal.
"But we must stay fully committed and focused. There is a long way to go in the season and we are not taking anything for granted. The manager has instilled that in us.
"We will not be taking our foot off the gas. We will be giving every opponent the respect they deserve and try to give a good account of ourselves in every game. We will try to win games and keep this momentum going.
"You can't afford to make any mistakes in this league. If you do you will get punished. We have had a few incidences of that earlier on in the season.
"But obviously we are now 12 points clear and have won nine games in a row. We have a good bit of momentum behind us and we will look to keep that going.
"If the lead gets to 30 points we still won't take our foot off the gas. That is just the way we are. That is what the manager keeps telling us."
Wallace believes his former Hearts team-mate David Templeton, who set up his goal against Clyde in the first half, is set to play a key role for Rangers in the remainder of the season.
He said: "Temps gives us a new dimension when he is involved, especially in the position he started the game in just behind the striker.
"He moved out to the right when Dean Shiels came on but he showed us he's great with the ball at his feet. He can turn, twist and step over with his tricks and skills."
"He is going to be massively important for us. He has made a huge impact since he came back from the injury he picked up against Annan in only his second start for the club.
"Now that he is back in amongst it and is training every day he is sharp and is back involved in the games. He is having a hand in goals and is scoring them himself.
"He is a flair player the fans love. We all love him within the team. I think he will play a massive part in the second half of the season.