Exit manager: never manage a fill with zero post-entry bars

Live 2026-07-06: every fresh entry was market-exited seconds after
filling (ELAB round-tripped in 3s, SEER in 77s, PLUG in 85s) — all
logged as exit_trail. Root cause: seconds after a fill there is no
completed minute bar with timestamp >= the fill time, and _bars_since's
empty result fell back to the WHOLE DAY's bars, so manage_live's
high-water included the pre-entry HOD and the trail read as already
breached on any name trading off its high. The whole-day fallback is
removed: with no post-entry bars the manager now leaves the position
alone (the bracket's initial stop is the protection) until the first
post-entry bar lands. Regression test verified to fail on the old code.

Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>

runtime/exit_manager.py

@@ -311,7 +311,13 @@ class LiveExitManager:
 
             since = _bars_since(bars, tr.entry_ts)
             if len(since) == 0:
-                since = bars
+                # no completed bar since the entry fill yet: the old whole-day fallback
+                # fed manage_live PRE-entry bars, so its high-water included the day's
+                # HOD and the trail read as already breached on any name trading off
+                # its high — instantly market-exiting fresh entries (3-second round
+                # trips on 2026-07-06). The bracket's initial stop already protects
+                # the position; do nothing until the first post-entry bar lands.
+                continue
             d = manage_live(tr.entry_price, tr.init_stop, since, self.cfg, tr.scaled)
 
             # (1) first-red: exit the whole position now

tests/unit/test_exit_manager.py

@@ -270,3 +270,34 @@ def test_manager_noop_for_static_bracket():
                           cfg=ExitConfig(target_r=2.0), session_id="t")
     assert mgr.manage() == []
     assert not broker.replaced and not broker.closed
+
+
+def test_fresh_fill_with_no_post_entry_bars_is_left_alone():
+    """Regression (2026-07-06 live): seconds after a fill there is no completed bar
+    with timestamp >= the entry time, and the old whole-day fallback fed manage_live
+    PRE-entry bars — the day's HOD read as post-entry high-water, the trail computed
+    as already breached, and fresh entries were market-exited within seconds (ELAB
+    round-tripped in 3s). With no post-entry bars the manager must do NOTHING: no
+    flatten, no scale-out, no stop replace — the bracket's initial stop protects."""
+    store = EventStore(":memory:")
+    pos = [{"symbol": "AAA", "avg_entry_price": "2.25", "qty": "100",
+            "current_price": "2.24"}]
+    # ran to 2.40 (HOD, > +1R past our later 2.25 entry) BEFORE the entry and pulled
+    # back to 2.24 — under the whole-day fallback the trail reads armed AND breached
+    bars = _bars([(2.20, 2.15, 2.19), (2.40, 2.19, 2.38), (2.39, 2.30, 2.35)])
+    leg = {"id": "stop1", "symbol": "AAA", "type": "stop", "side": "sell",
+           "stop_price": "2.19", "status": "held"}
+    # the BUY fill happened AFTER the last completed bar -> zero bars since entry
+    fill = {"id": "buy1", "symbol": "AAA", "side": "buy", "filled_qty": "100",
+            "filled_at": "2026-06-17 13:32:14"}
+    broker = _FakeBroker(pos, leg)
+    broker.get_orders = lambda **kw: [leg, fill]
+    mgr = LiveExitManager(
+        broker, store, lambda s: bars,
+        cfg=ExitConfig(breakeven_at_r=1.0, trail_mode=TRAIL_PRIOR_LOW, trail_after_r=1.0),
+        session_id="t",
+    )
+    mgr.manage()
+    assert broker.closed == [], "fresh fill must not be flattened before any post-entry bar"
+    assert broker.replaced == [], "stop must not move before any post-entry bar"
+    assert broker.canceled == []