I haven't used ad words yet and I am interested to know If you are the only person bidding for an advert can you get each click for $0.01?
The chances of an advertiser being the unique bidder on a keyword is slim. There are millions of advertisers and the vast majority do it wrong. You may in fact be the only one bidding on say "thingamagig for brand-x model-y" but you are also competing with those simply bidding on "brand-x model-y", not to mention those simply on "thingamagig". You'd have the advantage with a better QS and thus lowering your cost but your costs are determined by who is below you and what they bid. Learn more in my Adwords FAQ. The system is complicated and there's lots of variables that would determine the cost of even just one ad showing. In effect, you are never really unique: there's others elsewhere at other times who have used the keyword or one(s) that is similar. The system may even take into account the keyword in other languages. You could get one cent clicks, and it does happen, but it's not likely.
I already using adwords for several years & most of the time I only pay 0.01-0.05 USD per click in forex niche by using hundreds of keywords. Just make sure your site / landing page is great + useful for the readers, then use all related keywords for your site instead of one / several keywords.
I am making an ecommerce site selling products do you think that would be a good thing to use with adwords?
Yup. I've had some really good experiences with Adwords, and if it's something I've noticed they work especially well with CPA.
I have one account that has more than 2000 clicks per day in amount of 1 coin in my country so I guess it is possible to have $0,01 clicks easily