This is a very safe method which allows you to set your stop loss to break even as soon as you are in profit by a set amount of pips.
So for example you could have an initial stop loss of 30 pips and you decide that as soon as you are 30 pips in profit you will move your stop loss to break even and let your profits run.
This is a really simple strategy.
For your take profit level you can use a strong higher timeframe Level of support or resistance that you feel could be a major obstacle to price or you could allow you trade time to run so either the trading day or even the trading week closing your positions and taking your profit before the close.
The benefit of this method is that you reduce your risk fairly quickly and get some huge moves.
The negative aspect is that you will get a lot of trades go into profit and then come back and stop you out at break even and other trades that come back to your entry stop you out at breakeven only to then carry on in your original direction.
This can make you to feel that you are not succeeding in your trading because you will frequently have one of these two scenarios occur.
The reality is of course that you will more than cover these small losses with your huge gains from the few trades that do run on into profit.