It would seem you are doing this in the Excel GUI, there is no way to disallow more characters being added, through the GUI. You can, using data validation limit them to a set number of characters, using a Custom setting:
=LEN(A2)<51
If you want to do it mid-stream, you will have to use some VBA, and it won't be easy as worksheets don't have a keydown/keypress event. I've been looking for an hour and still haven't found anything that works, getting pretty deep. The closest I've found is here:
http://www.mrexcel.com/forum/excel-questions/181654-keypress-event-worksheet-cells.html
If you are wanting to avoid VBA, I think this will be a bit too deep for you, it certainly is for me!
I think you are out of luck for limiting characters on the fly.