The summer signing from Southampton will by vying for a starting berth along with Dexter Blackstock, Robert Earnshaw, Joe Garner, Nathan Tyson and Dele Adebola in the Forest forward line.
And McGoldrick knows he may have to bide his time in order to make an impact in Billy Davies' new-look side.
He told the club's official website: "It's going to be a battle, especially for a young man like me who is trying to break through.
"But hopefully that will make me a better player.
"There will be times when I'm on the bench and not playing, but at a big club like Forest I'm not going to play all the time. I'm prepared for that."