Chris Waller had no Caulfield Cup joy but has no doubt he'll have other chances to win the famous handicap.

The man who has conquered Sydney racing and was last season's premier Group One trainer saddled four runners including the favourite Hawkspur and second favourite Royal Descent in Saturday's race.

Royal Descent finished closest of the quartet in fifth place.

"I'm not disappointed. I was prepared to win the race, but didn't," Waller said.

The Waller-trained Hawkspur started a heavily backed $4.20 favourite but after going back from a wide barrier, he finished off for seventh after coming from near last on the turn.

Waller said Royal Descent "looked the winner" at the 300m but probably jarred up, while the trainer believes the barrier draw brought the favourite Hawkspur unstuck.

"We went back, nothing took us into the race and he even had to change back to the inside at the top of the straight," Waller said.

"He was clear last and then ran into trouble but still ran home well. I wouldn't be surprised to see him win the Melbourne Cup, but it would have been nice to finish a bit closer."

Waller said he wasn't disappointed but might be in a few days.

"But we'll be back for sure," he said.

While Waller's wait for a first `major' continues, Hawkspur's jockey Jim Cassidy also has to wait another week at least for his 100th Group One win.

Cassidy labelled Hawkspur's performance in defeat as "enormous" and certainly hasn't given up on the four-year-old as a Melbourne Cup prospect.

"I won't be swapping him," Cassidy said.