When it comes to bold colors, there probably isn't one bolder or more feared than red. I admit, your confidence must roll off you in waves if you are going to wear the color. However I am a firm believer, no matter your age, every woman should own and rock a red dress with style! There are so many shades of red and ways to wear a red dress. I'll simply focus on the the primary shades and my one rule.
Personally, if I am going to wear a red dress, which does shout "look over here," I make sure the occasion matches the dress and the intensity/vibrancy of the shade (ex: I won't wear a striking, tank dress at the office - it's too bold). I look best in cool red shades like my dress below. When I opt to rock a red dress, I usually go for one in this shade. If you look great in colors like royal blue, emerald green or purple - this shade of red (with more yellow in it) would likely look great on you. Have you ever gone to a make-up counter and been told the undertones of your skin? It's a similar color matching process and very helpful.
Cool red shades are a better look for you if you have found colors like orange or yellow complement you better. Of course there are all shades in between. My general rule is when I rock a red dress I limit the shade to the dress only. I don't default to nude colored accessories though. I will sometimes color-block, depending on how intense the red dress is, or add a complementary shade of blue, orange, purple, mauve, pink, etc.