This campaign started brightly for the Shots, who won their first three games, including a 6-0 win over Guiseley, to see them sit top of the National League.
But now the Hampshire-based clubs are three games without a win, having lost their last two.
It was the same old story for Aldershot yesterday as they failed to take their chances in a dominant first-half before Chester scored two in the second period to snatch the points.
"The game should have been over and done with at half-time," Waddock told the club's website. "We created enough chances to win two games, let alone one. We didn't take them and we got punished for it.
"Second half we were poor. The game should have been out of sight. The players were reminded of what to do during the course of half-time, they were told yesterday, told before the game. The second half performance didn't put the details in place that we were looking for.
"We've been saying this for a season and a bit about being more clinical and ruthless. We create chances for fun, you've got to take them otherwise you're going to lose football matches like we did today.
"How many chances or opportunities did Chester create compared to ours? And we come away losing a football match. It doesn't stack up for me."