How to decide the amount for bidding to win a project from freelancer.com or upwork?

Dear Sir/Madam,

I was thinking of starting my own website development company. I would like to win projects from project pool websites like freelancer.com or upwork.com.

I have a rather odd question.

How to decide the amount for bidding for a project from freelancer.com or upwork.com? How do bidders decide the amount to bid? Is there any course associated with this (bidding)? Any online tutorials or articles?

I know this may not the right type of question for this category but I did not find any suitable category either. Please tell me if there are better categories to post this question.

Thanking you.


Yours faithfully,
Raja Mukherjee

P.S. I know the process of bidding online at the above mentioned sites. But I do not know how to decide the amount for bidding.