A 55-3 walloping of Talywain at the Diamond Ground last weekend cemented the Old Boys' mid-table position, with Wakeford confident of further success down the line.
"I think our position in the table is a fair reflection of our performances this season," he said. "Although with a bit more experience and control, we could easily have won all six games, instead of three.
"The win over Talywain was huge for us, not so much for the 55 points we scored, but for the three we conceded. We know we can score tries with our style of play, but we've been conceding too many.
"We're trying to play a free-flowing, expansive style of rugby, rather than getting bogged down in the forward-orientated stuff like some of the Gwent clubs. It's good to watch, but it's fairly high-risk, so the tries have been flowing in both directions.
"The weather's sunny and the tracks are dry now, so we have to make the most of it. When it gets wet and muddy, we may struggle against some of the bigger packs, although we do have a few players coming back from injury."
Wakeford says the presence of "old hand" and former Wanderers fly-half Richie Marshall gave the side a boost against Talywain, with the club's promising young No. 10 Paul Adams playing on the wing and scoring a hat-trick of tries.
"Paul's been playing at fly-half for us, but we gave Richie a game and he controlled things well. Paul moved to the wing and bagged a few tries - he's got electric pace and we're hoping for higher honours for him in the future."
Cardiff HSOB play northern club Dolgellau in the second round of the Konica Minolta Cup on Saturday, with Wakeford admitting: "I know absolutely nothing about them!
"They're probably a tough side, but they have to travel a long way to play us and we'll be looking to use the game to try a few things.
"It's important that we win it, because we need a lot of confidence going into our next League game, which is away to a very good Garndiffaith side.
"It's too early to talk about promotion chances, but if we continue to improve and get some consistency into our game, there's no reason we can't be in the mix at the other end of the season.
"We just need to play with confidence and hopefully 'nil' a few sides along the way."
WRU TV were on hand at the launch of a major new commercial deal with WRU and Mercedes-Benz South Wales (part of the Sinclair Group), which sees the family company become an official supplier to the Welsh Rugby Union
On the back of the recent Women's Rugby World Cup, the WRU has launched a revitalised Women's and Girls domestic seasonal structure, and the future is looking bright.
Go to www.wru.co.uk/tryourgame for more information
Roger Lewis talks to WRU TV at the announcement of a new £60 million Rugby Services Agreement (RSA) which provides a new and positive contractual relationship between the WRU and its four Regions for the next six years has been agreed.
The Welsh Rugby Union has announced a major new sponsorship deal with Gullivers Sports Travel which will make the UK's leading, and longest established, multi-sport tour operator, an Official Supplier for the rest of the decade.
Having taken part in seven World Cups as a player and coach, Liza Burgess hopes to go out in style this afternoon when Wales take on Australia in the Play-off for seventh and eighth place in the Women's Rugby World Cup in Paris.
WRU Head of Rugby Josh Lewsey met with volunteers across the game earlier this week, championing their role in the sport. He was joined by Wales captain Sam Warburton for part of the day as volunteers took part in a 'Try Out' event for the 2015 Rugby World Cup