1

app/db/paper_trading.py

@@ -1122,9 +1122,18 @@ def _fill_paper_order(conn, order: dict, rec: dict, current_price: float, event_
     base_notional = _safe_float(order.get("notional_usdt"), default_notional_usdt(cfg))
     global_ok, global_detail = _global_risk_entry_check(conn, rec, base_notional, cfg)
     if not global_ok:
-        result = _cancel_paper_order(conn, order, "global_risk_rejected", event_time)
+        # Market/account risk is a temporary execution gate, not proof that the
-        result["risk_detail"] = global_detail
+        # original limit order is invalid. Keep the order pending so it can fill
-        return result
+        # later if risk improves, instead of instantly wiping every touched order.
+        conn.execute("UPDATE paper_orders SET updated_at=%s WHERE id=%s", (event_time, order["id"]))
+        return {
+            "skipped": True,
+            "reason": "paper_order_risk_paused",
+            "paper_order_id": order.get("id"),
+            "target_price": order.get("target_price"),
+            "current_price": current_price,
+            "risk_detail": global_detail,
+        }
     adjusted_notional = _market_risk_adjusted_notional(base_notional, global_detail, cfg)
     pause_ok, pause_reason, pause_detail = _portfolio_entry_pause_check(conn, adjusted_notional, event_time, cfg)
     if not pause_ok:

tests/test_paper_trading.py

@@ -761,6 +761,52 @@ def test_pending_paper_order_reconciles_from_latest_price_cache(monkeypatch):
     assert order["fill_price"] == pytest.approx(95)
 
 
+def test_touched_wait_pullback_order_stays_pending_when_global_risk_pauses(monkeypatch):
+    monkeypatch.setenv("ALPHAX_PAPER_TRADING_ENABLED", "1")
+    monkeypatch.setenv("ALPHAX_PAPER_GLOBAL_RISK_GATE_ENABLED", "1")
+    monkeypatch.setattr(
+        "app.db.paper_trading.evaluate_global_risk",
+        lambda **kwargs: {
+            "allow_new_entries": False,
+            "decision": "block_critical_weak_score",
+            "risk_level": "critical",
+            "reasons": ["critical 市场环境下推荐分不足"],
+        },
+    )
+    altcoin_db.init_db()
+    rec_id = altcoin_db.create_recommendation(
+        symbol="RISKPAUSE/USDT",
+        rec_state="蓄力",
+        rec_score=22,
+        entry_price=95,
+        stop_loss=90,
+        tp1=105,
+        tp2=112,
+        signals=["等待回踩"],
+        entry_plan={"entry_action": "等回踩", "entry_price": 95, "stop_loss": 90, "tp1": 105, "risk_reward_ok": True, "rr1": 2.0},
+    )
+    rec = {
+        "id": rec_id,
+        "symbol": "RISKPAUSE/USDT",
+        "execution_status": "wait_pullback",
+        "action_status": "等回踩",
+        "entry_price": 95,
+        "stop_loss": 90,
+        "tp1": 105,
+        "tp2": 112,
+        "entry_plan": {"entry_action": "等回踩", "entry_price": 95, "stop_loss": 90, "tp1": 105, "risk_reward_ok": True, "rr1": 2.0},
+    }
+
+    created = sync_recommendation(rec, 100, event_time="2026-05-16T10:00:00")
+    paused = sync_recommendation(rec, 94.9, event_time="2026-05-16T10:05:00")
+
+    assert created["reason"] == "paper_order_created"
+    assert paused["reason"] == "paper_order_risk_paused"
+    assert list_paper_trades()["total"] == 0
+    assert list_paper_orders(status="pending")["items"][0]["symbol"] == "RISKPAUSE/USDT"
+    assert list_paper_orders(status="canceled")["total"] == 0
+
+
 def test_wait_pullback_order_cancels_when_recommendation_invalid(monkeypatch):
     monkeypatch.setenv("ALPHAX_PAPER_TRADING_ENABLED", "1")
     altcoin_db.init_db()