A set of equations is presented suitable for the activation analysis of fast ionic conductances according to the Hodgkin-Huxley model. Both the order and the time constant of the activation process can be evaluated. The method has been especially developed for the analysis of tracings whose rising phase is incomplete or contaminated, and is based on the observation that the peak co-ordinates of a transient current (time-to-peak and peak amplitude) retain all information regarding the current development. Compared to the least-squares method, the procedure illustrated is more simple, at least as precise, and has proved to be successful with experimental tracings in which the least-squares analysis failed.