Well, I'm a first-time, real-time owner so take this with a grain of salt.

Step 1: A bulletin is posted by PB as to when the draft will be held. I think there is also information about when "cuts" are due.

Step 2: Teams cut any unwanted players. These players are available in the next Monthly FA draft

Step 3: Submit your draft list. If you team is under 35 players, the robot will select players for you if you do not have a draft list. Conditional drops (just like the formation draft) are highly recommended if you plan on drafting multiple players.

Step 4: Wait for the draft to run, and see who you got.

I hope this helps, and I hope other owners more familiar with the RT Monthly draft can give better help.

~ Bill