The present invention is a method and apparatus for the automatic loading and advancement of component feeder tape in a component feeder for use with a pick-and-place system. The feeder employs sensing technology to determine when a component tape leader is inserted into a tape guide, and subsequently auto-loads the feeder with the tape, including initiating the peeling of cover tape. Subsequently, the feeder operates to sense the presence of parts or components in the component tape pockets and to advance the component tape to a position where the first component is presented at the pick location. The feeder is also capable of detecting repeatable features in the component tape in order to automatically determine the component tape pitch.