Alandra, Sky Dreamer
Whenever you draw your second card each turn, create a 2/2 blue Drake creature token with flying. Whenever you draw your fifth card each turn, Alandra and Drakes you control each get +X/+X until end of turn, where X is the number of cards in your hand.
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Official rulings (3) · Scryfall
The same is true for the last ability and the fifth card drawn.
The first triggered ability can trigger only once each turn. It doesn't matter whether Alandra, Sky Dreamer was on the battlefield when the first card was drawn. If it's not on the battlefield when the second card is drawn, the ability can't trigger at all that turn. It won't trigger when the third or fourth card is drawn.
The value of X is locked in as the last ability resolves. The bonus it grants won't change after that point, even if the number of cards in your hand does.