Hi Amano.
Damon is referring to TP or Take Profit. This is were you set a limit on your profit, and is used by most professional traders that want to avoid certain ‘dangerous’ market levels, such as support or resistance where prices can become volatile.
In his example, he is using a more conservative TP [TP1 ]of 50 pips and a more aggressive TP [TP2] of 100 pips.
Breakeven is basically managing your trade in such a way, so that you end up with no profit or loss - and basically make nothing off the trade, but manage to protect your margin.
Hope that helps… 