A phrase, combining two literal words, Tried (an action in which someone has previously attempted to complete or has completed), and True (something that is seen as valid, either by logical and/or scientific validation, or validated by one's own opinions and/or beliefs and experiences).

If one combines these two words into a phrase, it means that the action/scenario that they are talking about has been validated as correct.

It is typically used to describe something that can be positive and beneficial to one's gain or well being.

It can also be generally used during periods of excitement, success, prosperity, and positive acknowledgement.
Person 1: You know you don't necessarily need a tuner to tune your guitar, right? As long as you have the biggest string to where you want it, you can use respective frets onward to accurately tune the rest of your strings.
Person 2: Wow, really? So I just wasted 20$ on this fuckin' piece of plastic? Damn.
Person 1: Tried and True, baby. Fuck tuners.
Person 2: Must be true, I've never seen you use one, but somehow your shit still sounds good.

Person A: None of the weedmen in this town so far have a scale, or so they say. I'm pretty sure I'm getting low-balled. Fuck dude.
Person B: How long you been here? My man Tim's Tried and True, always weighs .2 over on the dot. I call him Triple-T. He doesn't set up base on the street, he's one of the more reserved and lesser known guys in town. I'll set you guys up if you want.
Person A: Thanks man. Finally, something true, shiiiit.

Person Y: Fuck dude, Monkey Bombs just saved my fuckin' ass man, these Z's almost just had me RIP!
Person Z: Tried and True for sure baby! Ha! Don't stop runnin' though they still spawnin'!
Person Y: True true!!!
by TRWoof June 1, 2018
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