Scalpel
FeaturesCockpitPricingGuidesBlogSign inDownload
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
Scalpelscalpeltrade.comA keyboard-first scalping cockpit for Interactive Brokers.
ProductFeaturesCockpitPricingDownloadFAQ
ResourcesGuidesTroubleshootingGlossaryBlogCompareChangelogAccountRefer a trader
CommunityDiscordYouTube
CompanyAboutFor AI agentsContactTermsPrivacyRefundsRisk

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/4. Placing trades

    Guide 4.3

    Hotkeys: the defaults and how to change them

    Beginner, 7 min read. Checked with Scalpel 1.12.8 on October 15, 2026.

    In short

    Scalpel is built to be traded from the keyboard: Shift+1 to Shift+4 buy, Ctrl+Z sells everything at the bid, Ctrl+X sells half, B moves your stop to breakeven, and a voice confirms each one so your eyes never leave the book. Press ? for the cheatsheet, and rebind any trading key in Settings > Hotkeys by clicking it and pressing the new key. Esc is fixed: with nothing open, it flattens every position.

    In a fast small-cap move, the second you spend finding a button with the mouse is a second of price you do not get. Every trading action in Scalpel has a key, every key fires on the desk you have focused, and each one answers with a short spoken confirmation ("Filled, level two.", "Out, half.", "Breakeven.") so you can keep watching Level 2 and the tape instead of checking a panel.

    Before you start

    • A symbol loaded on a desk (guide 2.1).
    • Your buy presets set up (guide 4.1).
    • SIM mode while you build the muscle memory (guide 6.1).

    Every default key

    These are the rebindable trading keys, in the order Settings > Hotkeys lists them. Each acts on the focused desk (the one with the blue outline).

    Action (as Settings names it)Default keyWhat it doesYou hear
    Buy preset 1 to 4Shift+1 to Shift+4Buys with that preset's size, as a marketable limit at the ask plus your buy offset (guide 4.4)"Filled, level one." to "level four."
    Sell full (bid)Ctrl+ZSells the whole position at the bid minus your sell offset"Out, full."
    Sell half (bid)Ctrl+XSells half, rounded down to whole shares"Out, half."
    Sell quarter (bid)Ctrl+CSells a quarter, rounded down"Out, quarter."
    Sell half (ask)Ctrl+AOffers half at the ask"Out, half."
    Sell half (mid)Ctrl+SOffers half at the midpoint"Out, half."
    Stop to breakevenBMoves the working stop up to your entry price; a stop already above it stays put"Breakeven."
    Toggle trailing stopShift+TTurns trailing on or off"Trailing." or "Trail off."
    Cancel all ordersCtrl+Q (Shift+Q on a Mac)Cancels the working orders on the focused desk's symbol"Cancelled."
    Toggle cheatsheet? (Shift+/)Shows or hides every key on screen

    More voices follow on their own: "Out, in profit." or "Out, at a loss." when a trade closes, "Stopped out.", "Take profit.", "Rejected." when an order is refused, and "Flattened." after Esc. You can mute the voice or the sounds separately in Settings > Audio (guide 10.1).

    The scale-outs, breakeven and trailing are covered in guide 4.5 and guide 5.3.

    The fixed keys

    These are not in the rebind list and always do the same thing.

    KeyWhat it does
    EscCloses whatever is open first: the cheatsheet, Settings, a panel's or a scan's settings, or a symbol suggestion list. With nothing open, it flattens every position on every desk, the same as the header's Flatten All.
    EnterApplies Settings when it is open; otherwise loads the highlighted symbol from the suggestion list.
    Up / DownMove through the symbol suggestion list.
    Left, Right, TabMove focus to the previous or next desk (when you are not typing in a box).
    Ctrl+,Opens or closes Settings.
    Ctrl+-, Ctrl+=, Ctrl+0Zoom the whole cockpit out, in, and back to 100% (70% to 125%).
    This can cost you money

    Esc flattens everything whenever nothing is open, even while your cursor sits in a symbol box. If a suggestion list is showing, the first Esc only closes the list; a second press flattens. Treat Esc as your panic key, never as "cancel what I was typing".

    Typing a symbol never places an order

    The trading keys only fire when no text box has the key. While you type in a desk's symbol box, Shift+1 is just a "!" in the box. As soon as you pick a symbol (Enter or a click on a suggestion), the cursor leaves the box, so the keys trade straight away. If you clicked into a box and changed your mind, click the desk (or its chart) to give the keys back to trading.

    The cheatsheet

    Press ? to see every key as it is bound right now. The buy rows show each preset's size ("Buy 250 sh", "Buy Risk $100"), so the cheatsheet is also a quick check of what your four keys will buy. Press ? again, click outside it, or press Esc to close it.

    Hotkeys
    Shift+1Buy 100 shShift+2Buy 250 shShift+3Buy 500 shShift+4Buy 1000 shCtrl+ZSell full (bid)Ctrl+XSell half (bid)Ctrl+CSell quarter (bid)
    Ctrl+ASell half (ask)Ctrl+SSell half (mid)BStop to breakevenShift+TToggle trailing stopCtrl+QCancel all orders?Toggle cheatsheetEscFlatten / close overlay
    The cheatsheet with the default keys and the default share ladder. It always shows your current bindings. Demo data.

    Rebind a key

    1. 01

      Open Settings, then Hotkeys

      Press Ctrl+, (or click Settings in the header) and choose Hotkeys. Every action is listed with its key.

      Settings
      ConnectionTradingStopsRiskSizingAppearanceAudioHotkeysIntelAbout
      Hotkeys - click a key to rebind (Esc/Enter are fixed)
      Buy preset 1Shift+1Buy preset 2Shift+2Buy preset 3Shift+3Buy preset 4Shift+4Sell full (bid)Ctrl+ZSell half (bid)Ctrl+XSell quarter (bid)Ctrl+C
      Sell half (ask)Ctrl+ASell half (mid)Ctrl+SStop to breakevenBToggle trailing stopShift+TCancel all ordersCtrl+QToggle cheatsheet?
      CancelApply
      Settings, Hotkeys: the thirteen rebindable actions. Esc and Enter are fixed and not listed.
    2. 02

      Click the key you want to change

      The key turns blue and reads Press a key. Click it again to back out without changing anything.

      Settings
      ConnectionTradingStopsRiskSizingAppearanceAudioHotkeysIntelAbout
      Hotkeys - click a key to rebind (Esc/Enter are fixed)
      Buy preset 1Shift+1Buy preset 2Shift+2Buy preset 3Shift+3Buy preset 4Shift+4Sell full (bid)Ctrl+ZSell half (bid)Ctrl+XSell quarter (bid)Ctrl+C
      Sell half (ask)Ctrl+ASell half (mid)Ctrl+SStop to breakevenPress a keyToggle trailing stopShift+TCancel all ordersCtrl+QToggle cheatsheet?
      CancelApply
      Waiting for a new key for Stop to breakeven.
    3. 03

      Press the new key or chord

      Press a letter, number or punctuation key, alone or with Ctrl, Shift or both. If another action already had that chord, it loses it and shows Unbound: there are never two actions on one key.

    4. 04

      Click Apply

      Changes only take effect when you click Apply. Cancel (or Esc) closes Settings and keeps your old keys.

    What you cannot bind: Esc, Enter, the arrow keys, Tab, Space and the function keys, and the fixed Ctrl+, and zoom chords. Alt is not part of a chord.

    On a Mac

    Wherever this guide says Ctrl, press Cmd: Cmd+Z sells the position, Cmd+, opens Settings. The cheatsheet and the Hotkeys tab still write "Ctrl".

    The one exception is Cancel all orders: on a Mac it defaults to Shift+Q, because Cmd+Q quits apps on macOS, and quitting Scalpel switches off its stops (guide 5.1). An older binding on Cmd+Q moves to Shift+Q by itself.

    Tips for a keyboard-only setup

    • Keep sizes in the same order everywhere. Smallest on Shift+1, biggest on Shift+4, so a slip of the finger buys less, not more.
    • Learn the exits first. In SIM, practise Ctrl+X then Ctrl+Z until you do not look down.
    • Use Tab to change desks, so your left hand never leaves the keyboard.
    • Let the voice confirm. If you did not hear "Filled", look before you press again: the order may have been rejected or only partly filled.

    More in guide 14.3 and the full Hotkeys tab reference in guide 11.8.

    Questions

    What are the default hotkeys in Scalpel?
    Shift+1 to Shift+4 buy your four presets; Ctrl+Z sells all at the bid; Ctrl+X half and Ctrl+C a quarter at the bid; Ctrl+A half at the ask; Ctrl+S half at the mid; B moves the stop to breakeven; Shift+T toggles trailing; Ctrl+Q (Shift+Q on a Mac) cancels working orders; ? shows the cheatsheet; Esc flattens everything when nothing is open.
    Why did my hotkey not do anything?
    Usually a text box had the key. Click the desk to hand the keys back. Buys and sells are also blocked when the market is closed (04:00 to 20:00 ET is open), with a Market closed - orders disabled toast; breakeven, trailing and cancel still work. Buys are refused while the stock is halted.
    Which desk does a hotkey trade?
    The focused desk, the one with the blue outline. Click a desk, or move focus with Left, Right or Tab. Esc is the exception: it flattens every desk.
    Can I change what Esc does?
    No. Esc and Enter are fixed. Esc closes an open overlay or suggestion list first, and flattens every position only when nothing is open.
    Do hotkeys work on a Mac?
    Yes, with Cmd in place of Ctrl. The exception is Cancel all orders, which is Shift+Q on a Mac, because Cmd+Q quits apps there.

    Related guides

    Guide 4.5Scale out and flattenSell half, a quarter or the whole position at the bid, ask or mid, and flatten everything with Esc or Flatten All. What each exit does in SIM and in LIVE.Guide 14.3Trade without touching the mouseLoad symbols, move between desks, enter, scale out, manage stops and flatten using only the keyboard: a full hotkey workflow for scalping in Scalpel.Guide 11.8Settings: HotkeysScalpel's Hotkeys tab: every trading action and its default key, how to rebind one by pressing a new chord, and the fixed keys such as Esc and Enter.
    Previous: 4.2Trade a fixed dollar risk with Risk (Cents)Next: 4.4 Entries: marketable limits, offsets and partial fills
    Practice in SIM, against the live book.A lifetime license, every update included, with a 7-day refund guarantee.Ask in DiscordGet Scalpel
    Sign in