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/11. Settings reference

    Guide 11.8

    Settings: Hotkeys

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

    In short

    The Hotkeys tab lists Scalpel's 13 rebindable trading actions with their keys: Shift+1 to 4 buy, Ctrl+Z sells the whole position at the bid, B moves the stop to breakeven, and so on. To rebind one, click its key, press the new combination and click Apply. Esc (flatten everything) and Enter are fixed and cannot be rebound.

    Trading keys only fire when no text field has focus, so typing a symbol never places an order. Open Settings (Ctrl+,) and pick Hotkeys.

    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
    The Hotkeys tab at its defaults: every rebindable action in two columns, its key on the right.

    Every action and its default key

    ActionDefault keyWhat it does for your trading
    Buy preset 1Shift+1Buys with preset 1 from the Sizing tab, as a marketable limit.
    Buy preset 2Shift+2Buys with preset 2.
    Buy preset 3Shift+3Buys with preset 3.
    Buy preset 4Shift+4Buys with preset 4.
    Sell full (bid)Ctrl+ZSells the whole position at the bid, less your sell offset.
    Sell half (bid)Ctrl+XSells half at the bid.
    Sell quarter (bid)Ctrl+CSells a quarter at the bid.
    Sell half (ask)Ctrl+AOffers half at the ask and waits for a buyer.
    Sell half (mid)Ctrl+SOffers half at the mid.
    Stop to breakevenBMoves the working stop to your entry.
    Toggle trailing stopShift+TTurns trailing on or off for the position (Stops tab sets how it trails).
    Cancel all ordersCtrl+Q (Shift+Q on a Mac)Cancels working orders on the focused desk.
    Toggle cheatsheet? (Shift+/)Shows every key on screen.

    Every trading key acts on the focused desk. On a Mac, Ctrl is Cmd throughout, except Cancel all orders, which is Shift+Q because Cmd+Q quits a Mac app; a Cmd+Q binding from an older version moves to Shift+Q by itself. Entries and exits are blocked while the market is closed (overnight, weekends and holidays); breakeven, trailing, cancel and Flatten All (Esc) still work. Buys are also blocked while the stock is halted. Working through a whole trade from the keyboard is in guide 14: trade without touching the mouse.

    Rebind a key

    1. 01

      Click the key you want to change

      Its button lights up and reads Press a key. Click it again to back out.

      Settings
      ConnectionTradingStopsRiskSizingAppearanceAudioHotkeysIntelAbout
      Hotkeys - click a key to rebind (Esc/Enter are fixed)
      Buy preset 1Shift+1Buy preset 2Press a keyBuy 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
      Buy preset 2 waiting for its new key.
    2. 02

      Press the new combination

      A letter, digit or punctuation key, on its own or with Ctrl (Cmd on a Mac), Shift or both. The button shows it, for example Ctrl+Shift+B. If another action had that combination, it loses it and shows Unbound: give it a new key too.

    3. 03

      Click Apply

      Or press Enter. The new keys work at once and are saved. Cancel or Esc throws the changes away.

    Keys you cannot rebind

    KeyWhat it does
    EscCloses whatever is open first: the cheatsheet, Settings, a panel's settings, or the symbol suggestion list. With nothing open, it flattens every position on every desk, like the header's Flatten All.
    EnterApplies Settings when it is open, exactly like Apply; otherwise loads the highlighted symbol.
    Ctrl+,Opens and closes Settings.
    Ctrl+-, Ctrl+=, Ctrl+0Zoom out, zoom in, back to 100%.
    Left, Right, TabMove the focus between desks.
    Up, DownMove through the symbol suggestions.

    Arrow keys, function keys, Space and Alt combinations cannot be bound: a hotkey is always a character key, with Ctrl and Shift as the only modifiers.

    This can cost you money

    Esc flattens every position on every desk when nothing is open. Do not bind a trading action to a key you might reach for when you mean to close a menu, and know that a second Esc after closing a window is a flatten.

    What can go wrong

    • A key does nothing. A text field has focus (click a chart or press Tab; after you pick a symbol the cursor leaves the box by itself), the market is closed, the stock is halted (buys only), or the action shows Unbound here.
    • A key does the wrong thing. Another action took it when you rebound. Check this tab for Unbound rows.
    • Ctrl+C sells instead of copying. It is the default for Sell quarter. Rebind it if you copy and paste a lot while trading.

    Questions

    How do I change a hotkey in Scalpel?
    Open Settings > Hotkeys, click the key next to the action, press the new combination, and click Apply.
    Can I use a single letter as a hotkey?
    Yes. Stop to breakeven is B by default. Trading keys never fire while a text field has focus, so typing a symbol is safe.
    What does Esc do in Scalpel?
    It closes whatever is open first. With nothing open, it flattens every position on every desk. It cannot be rebound.
    Can I bind the same key to two actions?
    No. Binding a key takes it away from the action that had it, which then shows Unbound.
    Do Mac hotkeys use Ctrl or Cmd?
    Cmd. Every Ctrl shortcut in Scalpel is Cmd on a Mac, except Cancel all orders, which is Shift+Q because Cmd+Q quits the app.

    Related guides

    Guide 4.3Hotkeys: the defaults and how to change themEvery Scalpel hotkey and its default: buys, scale-outs, breakeven, trailing and cancel, each with a spoken confirmation. Esc's rules and how to rebind.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 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.
    Previous: 11.7Settings: AudioNext: 11.9 Settings: Intel
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