Truncate Posts

is there a way when you have typed a pretty long post to have it truncated…meaning the users would see something like “read more” or “click for entire article” in the post instead of have a really long post?

i’d like to be able to have a character limit i guess on the posts i make so it automatically truncates it if the post is long.

i hope that makes sense…if not automatic then i guess i could do it manually each time.