Ryan now concedes that may have been a blessing in disguise, as Red Aces rebounded quickly to win The Vase (2040m) at Moonee Valley last week and got a more solid race under the belt.
"I think it was a blessing in disguise missing out on Caulfield," Ryan said.
"He's a really good doing colt and I think the seven-day back will hold him in good stead, especially out to the Derby trip.
"I think we'll get a genuinely run Derby. Most of the lead-ups have been slowly run, so I think that will suit my horse, so if we can get some speed on, he'll be really strong."
Ryan had a successful career as a jockey, which was stopped by weight issues, and did not land a Group 1 victory, coming close when an apprentice aboard Alinghi in what is now known as the TAB Empire Rose Stakes, which is also run on Saturday.
He is also winless at the highest level as a trainer since saddling his first runner in 2014.
"We've been chasing it a while," Ryan said.
"It would be so special to do it on Derby Day, especially on my home track.
"That is something that has eluded me throughout my whole racing life, from being a jockey and a trainer, although I've come awfully close.
"We're knocking on the door."
It has been a quiet week for Red Aces since his win at Moonee Valley last week.
A trip to the beach on Sunday, some light work on Tuesday, but more importantly Red Aces has left nothing in the feed bin all week.
"We're here, we've made it to Saturday, and it looks like he's going to relish the step up in distance," Ryan said.
"He's only had five starts and the best is still to come.
