Jurgen Klopp's team will play the first leg at the Estadio do Dragao as they attempt to put themselves in a strong position for the return fixture at Anfield.
"It suits this Liverpool team to go out and play on the front foot. They like to press and be aggressive," the Liverpool Echo quotes Gerrard as saying. "They have been scoring very well and I think they will have huge confidence that they can go out and score in this tie.
"If you can get an away goal, it gives you a huge advantage. Listening to the Liverpool players and Jurgen Klopp, you can tell that they are confident and are playing well so it is all set up to be a great tie.
"I think both teams will fancy their chances of going through. Porto are going very well in their domestic league and they always prioritise the Champions League so I'm sure they are going to be ready."
Liverpool head into the game on the back of a 2-0 victory over Southampton in the Premier League.