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First off (As Nykc pointed out) never low ball yourself. Even as a new programmer at some point you're going to have to gain confidence in your work and charge what you honestly think you're worth (Do not go overboard and ask crazy amounts of money, be modest). When you bid on a project always add time into the estimate to account for things that can go wrong, that way you don't end up working for free because you missed the initial deadline.
When I take on a project I always get at least 40% up front, that is not negotiable, then the remainder upon competition. If I'm doing work for someone a long way away then I have them pay me via PayPal, if it's local I don't write a single line of code until they have the initial payment in my hands.
The main thing to remember is to not under-bid, and definitely don't over-bid
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