The main gimmick of this game is that you're creating your own content -- this can be areas to explore and loot, standalone enemies to grind, magic, and items in general.
There aren't limits here -- you input what you want. The cost can be quite high though, and/or it can require more Mana, AP or stats than you have. There's a Leveling system for this kind of thing -- the game revolves around combat so beating enemies is how you level up.