Jockey Katelyn Mallyon goes into her first Melbourne Cup buoyed by Lloyd Williams' success in the $6.2 million race.

The 22-year-old has her maiden Cup start on Assign, as one of four jockeys wearing owner Williams' colours - navy blue with white armbands - on Tuesday.

"I've grown up watching the blue and white colours win Melbourne Cups and now I'm actually riding in the famous colours for Mr Williams," Mallyon told AAP.

"It's amazing and it's a huge thrill.

"To have a ride in it and be on such a beautiful horse and have a really good chance, I can't wait. It's definitely a big dream of mine."

Thanks in part to the support from the Williams team at his Macedon Lodge training centre, Mallyon is not feeling any pressure after Michelle Payne last year became the first female jockey to win the Cup.

"I just do my best. I know that Assign does his best," Mallyon said.

"I've got all the confidence in the world from Lloyd and Nick Williams and all the owners and all of Mount Macedon. That gives me confidence in return."

Williams has won the Melbourne Cup four times and has four contenders in this year's race: Assign, Gallante, Almandin and Bondi Beach, who he owns in partnership with thoroughbred racing and breeding operation Coolmore.