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Hi everybody,
How are you?
Today I not going to share about forex.

I would share about Forecasting
Did you guys know what is meaning of forecasting?

WHAT IS FORECASTING?

Forecasting is an estimate of uncertain future events using past and current data.

•Forecast are used to improved decision making and planning.

•EXAMPLE:

Demand(sales) forecasting – Firms must anticipate future demand to best plan how to

satisfy it through on-hand inventory or available capacity. The production and ordering

decisions to be made before demands occurs.

Everybody can do a forecast not just for a bigger company only. Even though you are students you can also do a forecast for your daily, weekly or monthly expenditure to save your budget and survive in unstable economy nowadays.
Many people do not take care about the forecast. Actually forecast will help you in money management. It will prevent you for buy the thing that unnecessary.

Important Of Forecasting

•To provide standard procedure and measurement in implementation of future goal of organization.

•To stimulate future and quantity the effect of management decision.

•To reduce uncertainty of future event.

•Accuracy is an important criteria because if the forecast is inaccurate then all will be wrong with

strategic planning.

Example: The consequences of an optimistic/over forecast, resulting in the firm spending more than what is actually required in order to meet the market demand.

In FOREX we also need to do a forecast. That why we need to analysis before we enter the position. If we not unable to do analysis it too dangerous to enter the position.

That all for me,

Thanks for read.

If has any question just comment below the article.