The concept of cycles is very popular among technical analysts. Books and articles define them in various shapes and lengths. They are also very appealing to investors since they imply the old idea of buying low and selling high. Unfortunately, trading is not that easy and in reality, identifying and measuring cycles properly seems to be very hard. Most of the tools suggested fail since asset prices behave non-linear and most of the properties are time depending. This presentation describes a technique to identify cyclical behavior called Empirical Mode Decomposition (EMD). It is designed to split a time series into a bundle of different cyclical movements and a remaining trend. For each component, an empirical frequency could be derived in a second step. EMD is designed to deal with non-linear and non-stationary time series. The single steps to run EMD will be explained in detail. Afterwards, different ways of how traders might use this technique will be discussed.