Three positions on one theme (say, a weaker dollar) are one idea with three times the risk. Cap risk per idea, not just per ticket.
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Discussion: How do you check whether your open positions are really the same trade?
Educational discussion, not financial advice. Trading involves significant risk of loss.
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Risk management: Correlated positions count as one
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Helen M.
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One check I find useful is to ask what would have to happen for each position to lose at the same time. If three positions all lose when the dollar rallies, they share a common driver, so I treat their combined stop-loss as one idea's risk. I also look at rolling correlation over a recent window, though I'd be cautious about trusting a single number, since correlations tend to jump toward one in stressed markets. Do you size against a shared invalidation level, or against each ticket's own stop?
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