What I take away from his post is the following:
* When entering a trade he sets the stop-loss and entry values to a certain fixed price, set at his discretion, however he is constructing the trade.
* But since he takes profit when he sees best to do so, he doesn't set a pre-determined take profit value and doesn't have a set R:R/TP target known at the time of entry.
* Then once entered into a trade, he wants the take profit value to then be set to, and move with the current bid/ask price and constantly re-calculate a new R:R value based on the distance between his original entry/stop loss values to how far the market has currently moved.
* For example - If the distance between his pre-determined SL and entry price is 300 pips and the market has moved 900 pips in his favour from the entry price, the R:R output then shows him that his trade is currently at about 1:3 R:R ratio or 3x Risk (3R) multiple in profit.
Like a continually updating, dynamic R:R calculator.
Or that is how I initially understand it anyway.