Hi, I am told by people that a bid can be removed to clear it up? But how is that being done? I don't see any 'remove bid' buttons or something.
If you own the listing you can click on the bid amount and you will be asked if you would like to cancel it, if you click yes then the bid will be crossed out and no longer be counted.
What do you mean by "Clear it up"? ^ Stingerftw explains how to remove a bid, is that what you're asking for?
As bk871 has stated once you bid on an item you are in a contract with the seller, before you place your bid it warns you of this and you accept therefore the only way you can "cancel" your bid is to be out bidded by someone else.
yes, also if you don't buy when you wins auction, seller can give you negative iTrader if he/she wants.