peermedia - 6:06 am on Oct 30, 2007 (gmt 0)

I've always done it by starting about 50% higher than my max bid (so if my max bid is 30c, i'll start off with a 45c bid), but put a low campaign maximum. This way I can establish a click history so i'm not penalized right off the bat by having bids too low on historically high cpc rated keywords.