Yes,Nail, it is possible. But take into consideration that it
will take much time to drive heavy traffic. Don't beleive those
"gurus" that are saying something like "huge traffic in a week
with zero budget!!", it is not true. Try to register your site in
Yahoo, as it bring large and what is most important - targeted
traffic.
P.S. I agree with inachu about domain names. I think that
choosing the right free ads server will be your first step.