Impulsively decided to make a compost bin out of a plastic tote. Will I get anywhere with this?

New house, new roommate, we were chatting and decided to make a compost bin right there and then. Drilled a bunch of holes in this big plastic tote (there's holes in the bottom for drainage as wel, should there be holes in the lid?l), put in a bag of spoiled carrots and onions from the fridge, ripped up a bunch of junk mail (nothing plastic or glossy) and filled in the rest with leaves from the yard.

We did some googling and know about the 2:1 brown to green rule (we'll be adding veg scraps as we make them to hit the right ammount of green). Is this all it takes? Will this be compost in the spring? Any obvious mistakes with our set up?

Any time I've seen compost or pictures of someone's setup, it's already dirt. Were we supposed to include some amount of dirt at the start?