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
Scalpelscalpeltrade.comA keyboard-first scalping cockpit for Interactive Brokers.
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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/12. Licence, updates and account

    Guide 12.5

    Earn with the referral program

    Beginner, 5 min read. Checked with Scalpel 1.12.8 on October 15, 2026.

    In short

    Sign in at scalpeltrade.com, open Refer a trader and click Get my referral link. Anyone who buys within 60 days of clicking your link gets 10% off ($269.10 instead of $299) and you earn 30% of what they paid before tax, $80.73 a sale. Commissions are held for 30 days to cover refunds, then paid to your bank through Stripe.

    The referral program pays traders who send other traders to Scalpel. You do not need to own Scalpel to join, and it takes a minute to set up. The rates on this page are the current defaults; your referrals page always shows the ones that apply to you.

    Before you start

    • A scalpeltrade.com account (sign in with your email at /login).
    • For payouts: a bank account in the UK, the EU or EEA, the US, Canada or Switzerland.

    How the money works

    AmountNotes
    Buyer pays$269.10 + tax10% off the $299 price, shown on the pricing page and at checkout
    Your commission30% of the price before tax$80.73 on a $269.10 sale; tax is never part of it
    Held for30 daysCovers the 7-day refund window and card disputes
    PaidAutomatically, within a day of the hold endingThrough Stripe to your bank
    Link window60 days from the clickThe buyer must accept cookies for the click to count

    A buyer who signs up for an account while your link is remembered stays yours even if they buy later. You never earn on your own purchase, and your own code gives you no discount.

    Set it up

    1. 01

      Get your link

      Sign in, go to your account page and click Refer a trader (top right). Click Get my referral link. You get a link straight away, with a short random code: https://scalpeltrade.com/?ref=K7M2QX.

    2. 02

      Choose your own code

      Under Your link, type the code you want in Your code 1 and click Save code. A code is 4 to 24 letters, numbers or single hyphens, starting and ending with a letter or number. Capitals do not matter: JIMMY420 and jimmy420 are the same code. The page confirms "Your code is now JIMMY420."

      Your link
      https://scalpeltrade.com/?ref=JIMMY420 Copy link
      Your codeJIMMY420
      Save code
      4 to 24 letters, numbers or hyphens. Capitals do not matter.If you change it, links with your old code stop working. People who already signed up through you stay yours.
      1
      Your link, ready to copy, and the code box 1. Demo data.
      Careful

      Changing your code breaks every link with the old one. People who already signed up through you stay yours, but anyone who clicks an old link afterwards is not counted. Pick a code you will keep.

    3. 03

      Set up payouts

      In the Payouts panel, pick Country of your bank account and click Set up payouts. Stripe opens and asks for your identity and bank details; Scalpel never sees them. When you come back the badge reads Ready. If Stripe still needs something, the page says "Payout setup is not finished" and offers Continue payout setup.

      Commissions you earn before payouts are ready are kept and paid once setup is finished.

    4. 04

      Share the link

      Copy it with Copy link and share it where traders talk. Any page works: scalpeltrade.com/guides?ref=JIMMY420 lands a reader on the guides with your code attached, which is handy when you answer a question with a guide.

    5. 05

      Watch the numbers

      The page counts Clicks, Sales, money Held and money Paid, then lists each commission with its Sale date, Amount, Rate, Payable from date and Status.

      Clicks48
      Sales3
      Held$161.46
      Paid$80.73
      PayoutsReady
      Commissions are paid to your bank automatically once their hold ends.Open payout dashboard
      Commissions
      Sale dateAmountRatePayable fromStatus
      2026-10-14$80.7330%2026-11-13Held
      2026-10-02$80.7330%2026-11-01Held
      2026-09-08$80.7330%2026-10-08Paid
      Three referred sales: two held until their payable date, one paid. Demo data.

    Commission statuses

    StatusMeaning
    HeldWaiting out the 30-day hold. Paid automatically on or after its Payable from date.
    PaidSent to your Stripe account. Open payout dashboard shows the transfer and when it reaches your bank.
    VoidThe buyer was refunded before the commission was paid, so it was cancelled.
    ReversedThe buyer was refunded or won a card dispute after the commission was paid, so it was taken back. If your Stripe balance cannot cover it, it comes off your next payout.

    Currencies

    Commissions are worked out and shown in US dollars, because the sale was in dollars. Each one is paid out of the sale itself, in the currency Stripe settled that sale in, at the rate Stripe used for it (rounded down to the cent). Stripe then pays your bank in your bank's currency. The exact amounts that reach you are in your payout dashboard.

    Share it honestly

    The best referrals come from showing what you actually use. A few rules keep it fair for everyone, and the terms enforce them:

    • No performance claims. Do not promise profits or post "I made $X with Scalpel" as a reason to buy. Scalpel is a tool; momentum scalping is hard, carries a real risk of loss, and most people who try it lose money. Say so if you recommend it.
    • Describe it as it is. Long-only US stocks, built for the pre-market, stops watched by the app, no auto trader, no free trial (there is a 7-day refund).
    • No spam, no posing as us. Codes cannot contain words like scalpel, support, official, free or discount ("That code is reserved. Try another."). Bidding on the Scalpel name in search ads is not allowed.

    Referrers who spam or mislead buyers are suspended, and the page then says "Your referral account is suspended. Contact hello@scalpeltrade.com."

    Questions

    Do I need to own Scalpel to refer?
    No. Anyone with a scalpeltrade.com account can get a referral link and earn commission.
    How much do I earn per referral?
    30% of the price the buyer paid before tax. With the 10% referral discount that is $80.73 on a $269.10 sale.
    When do I get paid?
    Each commission is held for 30 days to cover refunds and disputes, then paid automatically through Stripe to your bank once your payouts are set up.
    How long does my link last?
    A click counts for 60 days, as long as the buyer accepts cookies on the site. A buyer who creates an account in that time stays yours.
    Which countries can receive payouts?
    Banks in the UK, the EU and EEA, the US, Canada and Switzerland, through Stripe Connect.
    What happens if my buyer asks for a refund?
    The commission is cancelled if it has not been paid yet, or taken back if it has. That is why commissions are held for 30 days.

    Related guides

    Guide 12.4Refunds, invoices and billingWhat a Scalpel licence costs, how VAT and sales tax are added, where your receipt and invoice are, and how the 7-day refund guarantee works.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.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.
    Previous: 12.4Refunds, invoices and billingNext: 12.6 Get help on Discord
    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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