I was planning on taking the SAT in October but then I realized I am also taking the PSAT that month. Would it be ok to take it then or would that be too many standardized tests in a short period of time?
The answer to your question depends partially on your workload in October and your level of preparedness for the test. If you feel completely prepared to take the SAT, and studying isn't taking too much time away from your regular schoolwork, by all means get it over with as soon as you can!
However, it's usually better to spread out standardized tests so that you have time to improve in between and can focus on one test format at a time when you study. I think your best option is to take the SAT for the first time in the winter or spring after the PSAT rather than taking both tests in the fall. If you wait to take the SAT until after you get your PSAT scores back, you can use the results to inform your studying. You'll be able to see very clearly which areas need the most improvement. Even if you take the test in the spring, you'll have a couple more chances to retake it before you submit your scores to colleges.