1. Navigate in your Web browser to the Google AdWords Keyword Tool at adwords.google.com. Click the 'Traffic Estimator' menu selection on the left side of the page.
2. Click the 'Word or phrase' field and type all the keywords and keyword phrases that you are considering bidding on. Press 'Enter' to put each keyword phrase on a new line.
3. Select the 'Max CPC $' field, and type the maximum figure that you will bid on clicks for the entered keywords. For example, type '1' to enter a maximum bid of $1.
4. Click the 'Daily Budget' field and enter the amount that you are willing to spend on your AdWords campaign per day.
5. Click the field above the 'Estimate' button and type the letters displayed in the image above.
6. Select the 'Estimate' button. The area below the button displays each keyword phrase. Next to each keyword phrase, the tool shows the number of people who search for that phrase every month, the position your advertisement would be displayed in against your competitors at the current bid level, how many clicks the advertisement would be expected to receive and how much each click would cost. Use this information to determine which keywords you should bid on.