The decision to drop One For One back in distance has proven a winning move by trainer Phillip Stokes, with the three-year-old racing to a Listed victory at Flemington.

One Of One was beaten by half a length when third in the Listed Morphettville Guineas (1600m) last start and Adelaide's premier trainer opted to drop him back to 1400m in Sunday's Poseidon Stakes at Flemington.

At the course where Stokes prepared four winners during a memorable Melbourne Cup carnival last year, One For One ($5.50) sat outside the leader Deadly Shadow before moving up to join him at the top of the straight.

The pair opened a couple of lengths advantage on the rest of their rivals passing the 300m mark before One For One got the better of Deadly Shadow ($31) to win by half a length.

Faatinah, the $3.70 favourite, was 1-1/2 lengths away third.

"He's a nice horse that's been progressing well at home," Stokes said.

"The other day in the Guineas he probably just didn't see the mile out and over-raced at different stages.

"Coming back to 1400 metres today looked ideal. He's a very fit horse and put himself there and made his own luck today."