"The ram which thou sawest having two horns are the kings of 
Media and Persia. Dan. 8 Verse 20. The Persian division of the empire was the highest and came up last. The ram with the two horns was the well-known emblem of the Medes and Persians. It was usual for the Persian kings to wear a diadem made like a ram's head of gold. -Scott.
stead, four kingdoms, said the angel, shall stand up out of the nation. Verse 22. These were Macedonia, Thrace, Syria, and Egypt, into which the empire was divided shortly after Alexander's death, governed respectively by Cassander, Lysimachus, Seleucus, and Ptolemy.
And out of one of them came forth a little horn. Verses 9, 23 - 27. Rome was not connected with the people of God, and hence is not introduced into prophecy, till after its conquest of Macedonia, one of the horns of the goat; hence it is represented as coming forth from one of those horns." James White
And the rough goat is the king of Grecia; and the great horn that is between his eyes, is the first king. Verse 21. This was Alexander, who was born B.C. 356, decided the fate of Persia at the battle of Arbela, B.C. 331, and died eight years thereafter in a drunken fit, at the age of 33, B.C. 323.
And whereas the great horn being broken, four came up in its
And out of one of them came forth a little horn. Verses 9, 23 - 27. Rome was not connected with the people of God, and hence is not introduced into prophecy, till after its conquest of Macedonia, one of the horns of the goat; hence it is represented as coming forth from one of those horns." James White
