Like mentioned by the other poster, the IRAs have a limit of $5,500. This is total. So you could have $5,500 all in tradition or Roth(my suggestion, or split up in some combination.
If you are married, you could open a spouse IRA, for you’d be allowed another $5,500.
Now… an important thing to note about retirement investments are to never pull out the month despite the current performance. If you are invested in a cheap, non managed index fund (S&P 500, Total Bond, Total international), its more so about the accumulation of shares through dividends and contributions. So manage you’re own IRA and check it once a year… if that.