migias,
There are several common ways to measure travel speed.
1. For manual or semi-automatic welding, the above mentioned stopwatch and tape measure is probably the most common. For example, the weld is 14 inches long, and took 135 seconds to deposit. 135 seconds/60 seconds per minute = 2.25 minutes. Travel speed = 14in/2.25min = 6.22 in/min.
Alternatively for manual welding (GTAW, SMAW), the length of weld deposited compared to the length of electrode can be used. This is less common, but still used often. See Section IX for complete description.
2. For machine or automatice welding, the easiest way is to simply make sure your machine is calibrated properly, and record the number setting used for travel speed.