What should you base a go or no-go decision on?

First of all you should start with yourself, are you feeling fit to fly?
You can use the acronym IMSAFE
I = Illness, do you have any illness, feeling sick, is a no-go.

M = Medication, are you under any medication? You need to make sure with an FAA medical examiner that the medication doesn’t affect your ability to fly.

S = Stress, if you are under heavy stress, personal, emotional, or financial.
Your ability to act as a safe pilot are impaired, and you should not fly until you are feeling more relaxed.

A = Alcohol, have you been drinking within eight hours? 24 hours? Alcohol and flying is a no-go.

F = Fatigue, are you feeling tired? Then you should not fly.

E = Eating, are you feeling hungry? Then you need to make time to eat before the flight.

Then there are other factors that play a big role in a decision to go, or to cancel the flight.
Weather
Aircraft condition

NOTAMS