Scalpel
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1.Getting started
  • Install Scalpel on Windows
  • Install Scalpel on a Mac
  • Activate your Scalpel licence
  • Connect Scalpel to Interactive Brokers
  • Enable the API in TWS and IB Gateway
  • The IBKR market data you need for Level 2
  • Your first 15 minutes in SIM
  • A tour of the Scalpel cockpit
  • What Scalpel is for, and what it is not
2.Desks and layout
  • Load symbols onto desks
  • Add, remove and resize desks
  • Panel settings: Level 2, tape and chart
  • Set up Scalpel for one, two or three screens
  • Desk badges: DELAYED, NO DATA, STALE and HALTED
3.Reading the market
  • How to read Level 2 in Scalpel
  • Spot iceberg orders on Level 2
  • Read the time and sales tape
  • Hear the tape: tape sound
  • The chart: timeframes, VWAP, EMAs, MACD and delta
  • The read line and the chart read bar
  • Read the players on Level 2: venues, refills and size
4.Placing trades
  • Sizing presets: shares, dollars or risk
  • Trade a fixed dollar risk with Risk (Cents)
  • Hotkeys: the defaults and how to change them
  • Entries: marketable limits, offsets and partial fills
  • Scale out and flatten
  • The order bar and orders panel
5.Stops and targets
  • How Scalpel's stops work
  • Move your stop and target on the chart
  • Breakeven and trailing stops
  • R multiples: how Scalpel measures a trade
  • Stops in the pre-market: why they cannot sit on the book
6.SIM and LIVE
  • Paper trading with SIM
  • Switch to LIVE safely
  • Commissions: pick your IBKR plan
  • Analytics: review your trading
7.Risk controls
  • Set a daily loss limit (the kill-switch)
  • Fat-finger and max-position caps
  • Why Scalpel is long-only
8.Scanner
  • Set up the IBKR scanner
  • Scan types: momentum, running up and setups
  • Scan the pre-market
  • Shares out, short interest and the squeeze score
  • Arrange scan panels
9.Intel: borrow, dilution and catalysts
  • Turn on intel
  • Check a stock for dilution before you buy
  • Borrow, short fees and squeeze setups
  • Why is it moving? Catalyst grading
  • Every intel chip, explained
  • Warrant and offering lines on the chart
  • The dilution entry guard
10.Audio and alerts
  • Voice callouts and sounds
  • Alerts and toasts
11.Settings reference
  • Settings: Connection
  • Settings: Trading
  • Settings: Stops
  • Settings: Risk
  • Settings: Sizing
  • Settings: Appearance
  • Settings: Audio
  • Settings: Hotkeys
  • Settings: Intel
  • Settings: About
12.Licence, updates and account
  • Move your licence to a new computer
  • Updates: how Scalpel updates itself
  • Try new features early: the beta channel
  • Refunds, invoices and billing
  • Earn with the referral program
  • Get help on Discord
13.Troubleshooting
  • Scalpel says Disconnected: fix the IBKR connection
  • TWS is running but not accepting the connection
  • TWS signs out when IB Gateway starts
  • Delayed data, NO DATA or STALE, or Depth unavailable
  • A LIVE order was rejected
  • An order did not fill, or only part filled
  • Scan panels say the IBKR scanner is off or waiting
  • Licence: machine limit reached
  • Licence: Scalpel cannot reach scalpeltrade.com
  • Windows protected your PC: installing Scalpel
  • An update did not install, or Scalpel went back a version
  • The chart or app window is blank
  • The order bar is greyed out
  • No callouts or tape sound
  • Intel shows nothing or SEC filings are off
14.Tips and tricks
  • 40 Scalpel tips for faster, safer scalping
  • A pre-market routine with Scalpel
  • Trade without touching the mouse
  • Settings for a small account
  • Your first week: a SIM practice plan
  • The momentum method Scalpel is built around
15.Glossary
  • Day trading glossary
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Trading involves substantial risk of loss. Scalpel is software, not investment advice. LIVE mode places real orders in your Interactive Brokers account. No warranty. Simulated or replayed results do not guarantee future results. Scalpel is independent software and is not affiliated with, endorsed by or sponsored by Interactive Brokers LLC. IBKR and TWS are trademarks of their respective owners. Figures shown on this site are demo data, not live quotes. Scalpel is sold by QUITE RIGHT LIMITED, registered in England and Wales, company number 17053815. Copyright 2026.

    All guides
    1.Getting started
    • Install Scalpel on Windows
    • Install Scalpel on a Mac
    • Activate your Scalpel licence
    • Connect Scalpel to Interactive Brokers
    • Enable the API in TWS and IB Gateway
    • The IBKR market data you need for Level 2
    • Your first 15 minutes in SIM
    • A tour of the Scalpel cockpit
    • What Scalpel is for, and what it is not
    2.Desks and layout
    • Load symbols onto desks
    • Add, remove and resize desks
    • Panel settings: Level 2, tape and chart
    • Set up Scalpel for one, two or three screens
    • Desk badges: DELAYED, NO DATA, STALE and HALTED
    3.Reading the market
    • How to read Level 2 in Scalpel
    • Spot iceberg orders on Level 2
    • Read the time and sales tape
    • Hear the tape: tape sound
    • The chart: timeframes, VWAP, EMAs, MACD and delta
    • The read line and the chart read bar
    • Read the players on Level 2: venues, refills and size
    4.Placing trades
    • Sizing presets: shares, dollars or risk
    • Trade a fixed dollar risk with Risk (Cents)
    • Hotkeys: the defaults and how to change them
    • Entries: marketable limits, offsets and partial fills
    • Scale out and flatten
    • The order bar and orders panel
    5.Stops and targets
    • How Scalpel's stops work
    • Move your stop and target on the chart
    • Breakeven and trailing stops
    • R multiples: how Scalpel measures a trade
    • Stops in the pre-market: why they cannot sit on the book
    6.SIM and LIVE
    • Paper trading with SIM
    • Switch to LIVE safely
    • Commissions: pick your IBKR plan
    • Analytics: review your trading
    7.Risk controls
    • Set a daily loss limit (the kill-switch)
    • Fat-finger and max-position caps
    • Why Scalpel is long-only
    8.Scanner
    • Set up the IBKR scanner
    • Scan types: momentum, running up and setups
    • Scan the pre-market
    • Shares out, short interest and the squeeze score
    • Arrange scan panels
    9.Intel: borrow, dilution and catalysts
    • Turn on intel
    • Check a stock for dilution before you buy
    • Borrow, short fees and squeeze setups
    • Why is it moving? Catalyst grading
    • Every intel chip, explained
    • Warrant and offering lines on the chart
    • The dilution entry guard
    10.Audio and alerts
    • Voice callouts and sounds
    • Alerts and toasts
    11.Settings reference
    • Settings: Connection
    • Settings: Trading
    • Settings: Stops
    • Settings: Risk
    • Settings: Sizing
    • Settings: Appearance
    • Settings: Audio
    • Settings: Hotkeys
    • Settings: Intel
    • Settings: About
    12.Licence, updates and account
    • Move your licence to a new computer
    • Updates: how Scalpel updates itself
    • Try new features early: the beta channel
    • Refunds, invoices and billing
    • Earn with the referral program
    • Get help on Discord
    13.Troubleshooting
    • Scalpel says Disconnected: fix the IBKR connection
    • TWS is running but not accepting the connection
    • TWS signs out when IB Gateway starts
    • Delayed data, NO DATA or STALE, or Depth unavailable
    • A LIVE order was rejected
    • An order did not fill, or only part filled
    • Scan panels say the IBKR scanner is off or waiting
    • Licence: machine limit reached
    • Licence: Scalpel cannot reach scalpeltrade.com
    • Windows protected your PC: installing Scalpel
    • An update did not install, or Scalpel went back a version
    • The chart or app window is blank
    • The order bar is greyed out
    • No callouts or tape sound
    • Intel shows nothing or SEC filings are off
    14.Tips and tricks
    • 40 Scalpel tips for faster, safer scalping
    • A pre-market routine with Scalpel
    • Trade without touching the mouse
    • Settings for a small account
    • Your first week: a SIM practice plan
    • The momentum method Scalpel is built around
    15.Glossary
    • Day trading glossary
    Guides/13. Troubleshooting

    Guide 13.8

    Licence: machine limit reached

    Beginner, 4 min read. Checked with Scalpel 1.12.8 on October 15, 2026.

    In short

    Each Scalpel licence runs on two computers at once. When a third asks, the licence screen says the licence is already active on 2 machines. Sign in at scalpeltrade.com/account, click Free this machine next to a computer you no longer use, then click Try again in Scalpel. You can free 3 machines every 30 days.

    This is not a fault and nothing is wrong with your key. Scalpel counts a computer as soon as it activates, and keeps counting it until you free it on your account page, even if you wiped it or sold it.

    This licence is already active on 2 machines. Free one at scalpeltrade.com/account.

    That is the exact message, in orange under the title Scalpel is not licensed on this computer. The cockpit stays hidden and no order key works until this computer has a licence. If anything is still open from an earlier session, the screen shows it with a Flatten all button, so a licence problem never traps you in a position.

    Scalpel is not licensed on this computer
    This licence is already active on 2 machines. Free one at scalpeltrade.com/account.
    SCLP-XXXX-XXXX-XXXX-XXXXActivate
    Already bought one?Find my key
    No licence yet?One payment covers two computers and every update, with a 7-day refund. Buying takes a minute at scalpeltrade.com; your key arrives straight away.
    Buy a licence
    This computer: TRADING-PC. Each licence covers two computers; free one up on your account page.Try again
    123
    The licence screen when both slots are taken: the message 1, Find my key, which opens your account page 2, and Try again 3. Demo data.

    Scalpel keeps your key when this happens, so once a slot is free you only need to click Try again. You do not paste the key again.

    Free a machine and activate this one

    1. 01

      Quit Scalpel on the computer you are giving up

      If the old computer is still running Scalpel, close it first. A running copy checks its licence at every start and every 12 hours, and if a slot is free at that moment it takes it back.

    2. 02

      Open your account page

      Click Find my key 2 on the licence screen, or go to scalpeltrade.com/account and sign in with the email you bought with.

    3. 03

      Find the computer to free

      The Lifetime licence panel lists Machines 2 of 2. Each row shows the computer's name (its Windows computer name, or the Mac's name in System Settings), when it was last seen in UTC and the version it ran. The old one is usually the row with the oldest Last seen date.

      Lifetime licenceActive
      SCLP-7K3M-Q9XD-2HTF-W8RB
      Machines 2 of 2
      TRADING-PCLast seen 2026-10-15 13:02 UTC, v1.12.6
      Free this machine
      OLD-LAPTOPLast seen 2026-09-28 20:41 UTC, v1.12.1
      Free this machine
      The licence panel on the account page: two machines, each with Free this machine. Simplified. Demo data.
    4. 04

      Click Free this machine

      The page confirms: "Machine freed. Quit Scalpel on that computer: if it is still running with a slot free, it takes the slot back at its next check." The panel now reads Machines 1 of 2.

    5. 05

      Click Try again in Scalpel

      Back on the licence screen, click Try again 3. Scalpel takes the free slot and opens the cockpit. Settings > About then reads, for example, "Licensed (SCLP-****-****-****-W8RB). Active on 2 of 2 computers."

    You can free 3 machines every 30 days. Contact support if you need more.

    That is the account page's message once you have freed three machines in 30 days. The limit counts per licence. If you are mid-move and hit it, ask on Discord (guide 12.6) or email hello@scalpeltrade.com with the computer names, and we will sort it out.

    Why a computer you still own counts twice

    Scalpel tells computers apart by an ID from the operating system (on Windows, the machine GUID Windows creates at install). So:

    • Reinstalling Windows or macOS gives the computer a new ID. It counts as a new machine, and the old entry stays until you free it. The name on both rows may be the same.
    • Renaming the computer does not change the ID. The account page shows the new name after its next check.
    • Copying the Scalpel folder to another computer does not move the licence. The licence belongs to the computer, not the file.

    For a planned move, free the old computer first: guide 12.1 walks through it.

    What can go wrong

    • The old computer takes the slot back. It was still running Scalpel and rechecked before the new one did. Quit it, free it again, then click Try again on the new computer straight away.
    • The licence screen says the key was not found. That is a different problem: the key was mistyped or is from another account. Copy it from your account page and paste it again (guide 1.3).
    • "Scalpel could not read this computer's ID, which the licence is tied to: ..." Scalpel could not read the operating system's ID, so it cannot tell which slot is this computer. This is rare: it usually means security software or a locked-down work computer blocks the read. Run Scalpel on a computer you control, or ask on Discord with the text after the colon.
    • "This licence is no longer active (refunded or disputed)." The licence was refunded or its payment disputed. Freeing machines does not help; contact support.

    Questions

    How many computers can one Scalpel licence use?
    Two at a time. Free one on scalpeltrade.com/account to use a third.
    Do I need to paste my key again after freeing a machine?
    No. Scalpel keeps the key when the machine limit refuses it. Click Try again on the licence screen.
    Does freeing a machine stop Scalpel on that computer straight away?
    No. A running copy is never locked in the middle of a session. It shows a banner at its next check and asks for a licence at its next start.
    How often can I free a machine?
    Three times every 30 days per licence. Ask support if you need more.
    I reinstalled Windows and now Scalpel says 2 machines. Why?
    A reinstall gives the computer a new ID, so the account page shows it twice. Free the older row.

    Related guides

    Guide 12.1Move your licence to a new computerFree a computer on your scalpeltrade.com account and activate Scalpel on the new one. How the two-computer limit and the monthly reset allowance work.Guide 1.3Activate your Scalpel licenceFind your licence key, paste it into Scalpel's licence screen and start trading. How the two-computer limit, 12-hour check and 72-hour offline grace work.Guide 12.6Get help on DiscordLink your Discord on scalpeltrade.com to get the Customer role and the support channels, then ask with your version and the exact message you saw.
    Previous: 13.7Scan panels say the IBKR scanner is off or waitingNext: 13.9 Licence: Scalpel cannot reach scalpeltrade.com
    Practice in SIM, against the live book.A lifetime license, every update included, with a 7-day refund guarantee.Ask in DiscordGet Scalpel
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