The hosts maintained their unbeaten home record with a 33-29 victory over a Gloucester side who failed to capitalise on long spells of dominance at Adams Park. The visitors were the better side for much of the contest - but four missed penalties proved their undoing.
Young said: "It was a great game for the neutral but we are having the rub of the green at the moment. I'm disappointed at the way we played in the first half as we were extremely pleased to go in at 13-10 ahead. Gloucester should have been a couple of scores in front."
He continued: "We didn't play well for most of that game - perhaps for only 20 minutes - and we haven't produced an 80-minute performance all season. We are far from the finished article and still have a long way to go."
Young's Gloucester counterpart, Nigel Davies, believed that his side should have secured victory. He said: "We controlled large parts of that match but we didn't take our opportunities, mainly in the first half.
"We made a number of errors and they took their chances, especially when we messed up a scrum to give Christian Wade the opportunity to score. That was the turning point in the match."
Midway through the second half Wasps were trailing by a single point when Billy Vunipola seized possession to send Wade away for a splendid solo try, which drew praise from Young.
He said: "If you give Christian a bit of space there are very few better. People underestimate his strength and power and he has great footwork. If he keeps performing like that he will no doubt get his opportunity for honours. His try was crucial as it gave us the momentum and confidence to go on and win the match."
Despite the defeat Davies was upbeat adding: "I'm positive about the performance as we are still in the hunt for the top four.
"We've taken six points from two difficult away matches. We have a good opportunity next Friday night against Worcester to kick on but they are a dogged team and don't give up easily."