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/3. Reading the market

    Guide 3.4

    Hear the tape: tape sound

    Intermediate, 6 min read. Checked with Scalpel 1.12.8 on October 15, 2026.

    In short

    Tape sound turns the focused desk's trades into sound, so you can hear the flow while your eyes stay on the book: buys play bright notes in your right ear, sells hollow, lower notes in your left, and bigger trades play longer figures, up to a ringing four-note arpeggio for a block. Switch it on with Tape sound in the LEVEL 2 cog, with Enable audio and Sound effects on in Settings, Audio. Trades are weighed in dollars, with a $1,000 silence threshold and a $20,000 big print by default.

    A scalper's eyes are busy: the book, the chart, the order bar. Your ears are free. Tape sound lets you hear the tape speed up, hear which side is taking, and hear a block trade hit without looking at the column. The idea and the sound design are inspired by Aggr.trade, the open-source trade-flow tool by Tucsky, whose tape sound many traders know.

    Before you start

    • Speakers or headphones, on Windows or macOS.
    • A stock loaded on a desk (guide 2.1), and the tape making sense to you (guide 3.3).

    What you hear

    Every trade is weighed by its dollar value, price x size, so the same settings work on a $2 stock and a $20 one. Then:

    TradeSound
    Under Sound min value ($1,000)Silence.
    Under Big print value ($20,000)One short blip, a little louder and longer the bigger it is.
    From the big print valueA two-note figure: up for a buy, down for a sell.
    From 5 times it ($100,000)A four-note arpeggio.
    From 25 times it ($500,000)The arpeggio with a long, ringing top note.
    • Buys are bright notes climbing from a high E, placed in your right ear.
    • Sells are hollow, lower notes falling from B, placed in your left ear.
    • Trades between the bid and ask are silent, because neither side clearly took them.
    • A sweep is one note. Buys that arrive together across several venues are added up first and play as one, the way one buyer's order would.
    • One clock. Notes take turns: a calm tape is a steady tick, a busy one speeds up into a roll. If the tape gets more than a second ahead of the sound, small trades are skipped so it never lags the market; big ones always play.

    Only the focused desk plays, so you always hear the stock your hotkeys trade.

    What the defaults mean on a real stock

    Stock priceSilent belowBlipTwo notes fromArpeggio from
    $2500 shares500 to 9,999 shares10,000 shares50,000 shares
    $5200 shares200 to 3,999 shares4,000 shares20,000 shares
    $10100 shares100 to 1,999 shares2,000 shares10,000 shares

    Turn it on

    1. 01

      Check Settings, Audio

      Open Settings (Ctrl+,), then Audio. Enable audio and Sound effects must both be on, and Volume above 0%: at 0% everything is muted. Click Apply.

      Settings
      ConnectionTradingStopsRiskSizingAppearanceAudioHotkeysIntelAbout
      Audio cues
      Enable audio
      Sound effects
      Voice callouts
      Volume80%
      Sound effects and voice can be muted independently. Master mutes both.
      CancelApply
      Settings, Audio: Enable audio and Sound effects, outlined, must be on for tape sound to play.

      Tape sound has its own volume (next steps), so the Volume here mainly sets your voice callouts and sound effects.

    2. 02

      Switch on Tape sound in the LEVEL 2 cog

      Click the cog in the LEVEL 2 panel's title bar. Under Time and sales, tick Tape sound. It applies at once, no Apply needed.

      Level 2 settings
      Time and sales
      Display min size0
      Color by aggressor
      Size bars
      Dollar value instead of size
      Tape sound
      Sound volume60
      Sound min value ($)1000
      Big print value ($)20000
      Stereo: sells left, buys right
      The Time and sales section of the LEVEL 2 cog with Tape sound on and its settings outlined.
    3. 03

      Set the silence threshold

      Sound min value ($) is the smallest trade, in dollars, that makes a sound. The default $1,000 lets you hear almost everything on a small cap. If a busy stock becomes a constant buzz, raise it to $2,500 or $5,000. This is separate from the tape's Display min size, so you can hear flow you have filtered off the screen.

    4. 04

      Set the big print value

      Big print value ($) is where a trade stops being a blip and becomes a figure. Set it to what counts as a meaningful order on the stocks you trade: $20,000 suits most $2 to $10 momentum names; on a higher-priced, heavier stock try $50,000 so only real size stands out.

    5. 05

      Set the volume and stereo

      Sound volume runs from 0 to 100 (default 60). Keep it under your voice callouts, so a fill or stop announcement is never buried. Stereo: sells left, buys right is on by default; switch it off if you listen on one earbud, and both sides play in the centre. Stereo is never hard left and right, so one earbud still hears both sides either way.

    6. 06

      Focus the desk you want to hear

      Click the desk, or move focus with Left, Right or Tab. The sound follows focus. The first batch of trades after a stock loads is skipped, so loading never blasts a backlog at you.

    How to listen

    • Rhythm first. A slow, even tick is a quiet stock. A tick that turns into a roll is a crowd arriving.
    • Side second. A roll in your right ear with rising notes is buyers lifting; in your left with falling notes, sellers hitting.
    • Shape last. A two-note or four-note figure is a big trade. A run of right-ear figures while price is not moving is a seller absorbing buyers: look at the book for an iceberg (guide 3.2).

    Tape sound describes the flow, it does not predict it. Use it to know when to look, then decide from the book and chart.

    What can go wrong

    • No sound at all. Check Enable audio and Sound effects in Settings, Audio, the master Volume above 0%, Tape sound ticked in the cog, and that the desk you expect is focused (guide 13.14).
    • Too much noise. Raise Sound min value first, then Big print value.
    • It goes quiet in a fast move. It is skipping small trades to keep up with the market; the big ones still play.

    Questions

    What is tape sound in Scalpel?
    An audio version of the time and sales tape for the focused desk: buys in the right ear with bright rising notes, sells in the left with lower falling notes, and bigger trades as longer figures. It is inspired by Aggr.trade.
    Why is there no tape sound?
    Tape sound needs Enable audio and Sound effects on in Settings, Audio, the master Volume above 0%, and Tape sound ticked in the LEVEL 2 cog. It plays only the focused desk.
    Can I hear more than one desk at once?
    No. Only the focused desk plays, so the sound always matches the stock your hotkeys trade.
    Does the display min size filter the sound?
    No. Sound min value is its own dollar threshold, separate from the tape's display filter, so you can hear trades you have hidden from the column.
    Why dollars and not shares?
    So the same settings work on any stock. 1,000 shares is $2,000 on a $2 stock and $20,000 on a $20 one; weighing in dollars makes a big order sound big whatever the price.

    Related guides

    Guide 3.3Read the time and sales tapeRead the time and sales tape in Scalpel: prints coloured by who took liquidity, size bars, dollar values, the size filter, and the tape against Level 2.Guide 10.1Voice callouts and soundsWhat Scalpel says and plays: fills, exits, stops, the risk lock, mode switches, session times, exit warnings and scanner alerts, and how to mute each.Guide 2.3Panel settings: Level 2, tape and chartEvery option behind the Level 2 and chart cogs: rows, colouring, dollar values, the tape column, trade bubbles, gridlines and the warning switches.
    Previous: 3.3Read the time and sales tapeNext: 3.5 The chart: timeframes, VWAP, EMAs, MACD and delta
    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