diff --git a/scripts/mo_data.py b/scripts/mo_data.py
index 9627df74..db6c7e01 100644
--- a/scripts/mo_data.py
+++ b/scripts/mo_data.py
@@ -110,24 +110,36 @@ def read_decisions():
 # ── watchlist ─────────────────────────────────────────────────────
 
 def read_watchlist():
-    """返回 watchlist.json 等价 dict。纯 DB。"""
+    """返回 watchlist 等价 dict。纯 DB。
+    从 holding_strategies（自选策略）读取，watchlist_stocks 已废弃。"""
     db = _get_db()
+    # 主数据源：holding_strategies 自选策略
     rows = db.execute(
         "SELECT code, name, price, entry_low, entry_high, "
-        "stop_loss, currency, source, source_detail, notes, "
-        "added_by, added_at, analysis_json "
-        "FROM watchlist_stocks WHERE is_active=1"
+        "stop_loss, currency, updated_at "
+        "FROM holding_strategies WHERE status='active' AND decision_type='自选策略'"
     ).fetchall()
-
+    
     stocks = []
+    seen = set()
     for r in rows:
-        s = dict(r)
-        s['source_detail'] = _parse_json(r['source_detail'], None)
-        if r['analysis_json']:
-            s['analysis'] = _parse_json(r['analysis_json'], {})
-        else:
-            s['analysis'] = {}
-        stocks.append(s)
+        code = str(r["code"])
+        if code in seen:
+            continue
+        seen.add(code)
+        stocks.append({
+            "code": code,
+            "name": r["name"] or "",
+            "price": r["price"] or 0,
+            "entry_low": r["entry_low"] or 0,
+            "entry_high": r["entry_high"] or 0,
+            "stop_loss": r["stop_loss"] or 0,
+            "currency": r["currency"] or "CNY",
+            "added_at": r["updated_at"] or "",
+            "analysis": {},
+        })
+    
+    return {"stocks": stocks, "total": len(stocks)}
 
     db.close()