stubblejumper is right but he should have went into more detail. IMHO the magnetospeed is far more practical and consistent than a chrony. Others may have another opinion.
Now, here is one way to get very close approximation of velocities if you can't afford one or are waiting for one. It works reasonably well but isn't as precise as a magnetospeed or chrony. Start with the suggested starting load. Say five cartridges. Shoot them at 100 yards. Use the same aiming point from a rest and don't try to make any adjustments. What you're looking to do is get a group on the target as a reference point
Next, load up five more cartridges with a stouter charge. If you're loading something like a 30-06 or 308Win I suggest 1 grain increments until you get close to maximum specs. I also suggest you load up all of these increments in one sitting so that you don't have to make a lot of trips over a long time to and from the range.
NEVER CHANGE YOUR AIMING POINT. WHY???? Because then you lose your reference point. With each increase, measure how high the impact is from your original group. This measurement will give you an approximate velocity. HOW??? Some manuals have reference tables, such as Hornady, which will tell you how high your trajectory is as different ranges with varying velocities. This reference will give you a pretty good idea of how fast your bullet is traveling.
It's simple but it works well enough for most uses and gives you a reasonable idea of pressure. The best early indication of high pressure I know of is sticky bolt lift after a cartridge is fired. When this happens, STOP. DON'T use any more cartridges with that load. DON'T use any with hotter charges either. Likely you won't have a KABOOM but you are approaching the limits of your brass at the very least. Go back and try the load just before the bolt lift was sticky.
Now, check which load gave you the tightest group and sight in for it. You may want to tweak it a bit by seating the bullet at different depths, which is often more important than reducing or increasing a powder charge. Chasing flyers is often fixed by changing to a hotter primer etc. When you change any component, you must start all over again. That includes different manufacturers of brass or different lots of brass and even powder/primers/bullets.