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We define the concept of good trade execution and we construct explicitadapted good trade execution strategies in the framework of linear temporarymarket impact. Good trade execution strategies are dynamic, in the sense thatthey react to the actual realisation of the traded asset price path over thetrading period; this is paramount in volatile regimes, where price trajectoriescan considerably deviate from their expected value. Remarkably however, theimplementation of our strategies does not require the full specification of anSDE evolution for the traded asset price, making them robust across differentmodels. Moreover, rather than minimising the expected trading cost, good tradeexecution strategies minimise trading costs in a pathwise sense, a point ofview not yet considered in the literature. The mathematical apparatus for sucha pathwise minimisation hinges on certain random Young differential equationsthat correspond to the Euler-Lagrange equations of the classical Calculus ofVariations. These Young differential equations characterise our good tradeexecution strategies in terms of an initial value problem that allows for easyimplementations.

Mechanics of good trade execution in the framework of linear temporary market impact