verb, to dump your current relationship for someone who is younger, better looking, smarter, has more money, has bigger tits, or a bigger dick, with no kids.
Pud: Hey Rick, who's that you're with? Where's Tracey?
Rick: I cut that chick loose so I could trade up with Veronika.
When a G exchanges one thing for another thing of lesser or greater value.
Like when a gangster robs a familty and comes up on some DVD's. He goes to the video game store to TRADE UP on them for some other DVD's or store credit.
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.