Michelle Payne hopes to one day ride a horse she trains in the Melbourne Cup.

The 2015 Melbourne Cup winning jockey will head to Europe in the middle of next year looking for a horse to fulfil that dream.

She said she might follow the lead of recent internationally bred Cup winners by looking to France and Germany rather than England.

Payne holds a jockey and trainer licence in Victoria and is looking to expand the training side of her business, admitting retirement from riding is not too far away.

She was hospitalised in a fall at Mildura in May which could have claimed her life.

"It's a very dangerous sport and I've had my fair share of falls," Payne said.

"I don't really want to push my luck but in saying that you have to live your life what you love doing because you never know what's around the corner.

"My plan is to hopefully in June or July head over to Europe and find myself a horse for the Melbourne Cup.

"The plan would be to ride and train that myself and I don't think it could get anymore special than that."

Payne is one of six jockeys to also have a trainer's licence and is thankful for Racing Victoria for giving her the opportunity to make the transition.

She said she's getting together a good team of people including brother Stevie who was the strapper of her Melbourne Cup winner Prince Of Penzance.

"Stevie's started working for me in the last couple of weeks," she said.

"He's loves being in charge."

Payne will train for a new syndicate, Women's Racing, which in conjunction with Australian Thoroughbred Bloodstock has two recent New Zealand purchases.

ATB's Darren Dance will also help Payne source her potential international Melbourne Cup horse.