You might have been ready for a day or daily trading but the most important part of it is that is the price of the token or that coin that day will be profitable. If you are into day trade have it at the back of your mind that not all days will be a favourable market.
You should always a back up plans, not everyday will be profitable so having a stop and loss pin point will give you some good position in case
things will not favors your daily trade, you need to set your goals and think of every potentials and the reverse part if in case some unexpected
things happen along the way.