new to auction style draft need help

[tomsabillsfan]

I am in my first auction draft of any kind this sat. 3/28/09 looks like I am going 2nd, is this a big thing or not and what do I do? this is going to be on yahoo messanger so any help or info would be nice...here are the rules

1. Each team will be given a $260 salary cap for draft.
2. Each team will be given a $30 supplemental budget after the draft
3. Every player drafted can be owned by the drafting team or any other team if a trade takes place for a maximum of three years. the three years is based on a players draft date.
4. Managers will be limited on the number of players they may keep at season end. The number of players a manager can keep is as follows:
1st & 2nd place managers may keep three players,
3rd & 4th place managers may keep four players,
5th & 6th place managers may keep five players, and
7th-12th place managers will have no limit on the number of players they may keep.
5. At the beginning of the next season prior to draft day a manager must advise league which players he wishes to keep for the next year.
6. keeper salary's will increase by $5 the first year, $7 the second year kept.
7. free agents will hold a value of $8 dollars.
8. if a player is released, the releasing manager is still responsible for that players salary. if another manager wishes to claim the released player they must put a claim in for them, with an initial salary of $8.
9. Any released player drafted before the 5th round who is released may be claimed by any manager no matter the waiver order. If more than one manager wishes to claim the released player an auction of that player will take place with an initial bid of $8.
10. any released player picked up cannot be kept the following year.
11. additional rules may be entered at any time with majority vote from league
12. once a rule is proposed a manager has 72 hour to vote yeah or nay.

TRADES
1. trades can take place up the trading deadline.
2. a traded player may be kept for additional years but not exceeding three years beyond that players draft date.
3. Trades of involving more than 7 players will not be permitted

SUPPLEMENTAL DRAFT OF MINOR LEAGUE PLAYERS

1. A draft of minor league players will begin with a total of 5 rounds.
a. 1st year a random order of drafting will take place. Each additional year the last place manager will get the first pick etc.
2. Each manager will have a minor league roster of no more than seven players.
a. minor league players may be kept for no more than three years from when they were called up.
3. minor league player will hold a $0 value.
4. a minor league player placed onto a roster will assume the value of $1
5. if a minor league player becomes available in yahoo the owning manager shall either place player on roster or release player at no cost.
6. minor league players may be traded.