Not very good, to be totally honest. Definitely use a reference while working so you get the proportions right, d.raw out the whole body before worrying about color or detail so you know how the different body parts relate to one another. The curves are abrupt and jagged, the second shade of red is unnoticeable and unnecessary.. Read the pixel art tutorial in the resources/support forum, perhaps check out 'fun with a pencil' by Andrew loomis as well (PDF available online)

I dont think Cure was trying to discourage you, just point out some problems.  Anyways, I want to ask what your pixelling process is like.  Looking at your image it seems like youre maybe worrying about pixelling right away.  I would try sketching it out roughly first.  Heres how I would start, using a reference:

at this point I have everything sketched out and I can probably see some problems, like his hand looks too big.  But its no big deal to redraw it because its just a sketch.  I can just use the marquee tool to resize it, move things around, or just quickly sketch over things until it looks right, because I havnt commited to anything yet.  Only after all this, I dive into the actual pixelling.  This workflow may not be good for everything but I think it would work here, and receiving criticism wont be as big a deal because you dont commit to finishing everything from the get go.