The midfielder has penned a new deal to 2033 with Chelsea in the last 24 hours.
Caicedo told the club's website: "I think the sky is the limit for me, to be honest. Even if I make mistakes on the pitch, they make me stronger, because in life, in everything you do, you will make mistakes and learn from them.
"Every day in training or when I'm playing, I learn something and take that into the other games. So I am really happy with what I am doing and what I am going to do going forward."
Caicedo has worn the captain's armband at times this season.
And he added: "Thinking about the armband...I enjoyed that moment because it’s not easy to earn the armband. 'Being here was a dream for me; I always prayed for these moments.
"Now I am enjoying them because it’s so special for my family back in Ecuador and me. I am very proud of myself and so happy."