Tool condition monitoring, mainly tool breakage detection for high-speed machining (HSM), is an important problem to solve; however, the techniques or types of sensors applied in other research projects present certain inconveniences. In order to improve tool breakage monitoring systems, a simple, effective, and fast method is presented herein. This method is based on the discrete wavelet transform (DWT) and statistical methodologies. The effectiveness of the method is based on the measurements of the feed-motor current signals using inexpensive sensors. It is well-known that during the cutting process, the motor current is related to the tool condition.