Once registered you need to log into your account and select the 'Add Team' link in the left menu, the drop down menu will show you which competitions are available to you. Simply pick your required competition and select your team based upon the budget available to you.
Your selected captain will score double points for you (remember that's double losing points also) so unlike in real cricket you are selecting your captain on gut feeling that they will score big points for you rather than real leadership skills. Don't forget to pick your captain carefully as there are heavy penalties for changing them mid competition.
If a player is ruled out of a series due to injury or other unexpected circumstances then you will receive an extra transfer onto top of your competition allocation to enable you to exchange the injured player. If the player is your selected captain then as long as you leave the replacement as your captain the trade will be free. However if you don't wish for the replacement player to be your captain and wish to change to a different captain afterward you will be subject to the standard transfer fee.
To allow users a longer period to sign up we generally create competitions before the squad lists are announced therefore some players may differ from the ones announced; we will update the squads as soon as they are announced (at least a week before a competition starts). Don't worry about it costing you transfer points as all transfers are free until the start of the very first game.
All new teams are instantaneous if a competition is "Open", if a match is in progress the team will become "Pending" all "Pending" teams will be completed once the points have been updated for the current match. If there is more than one game in progress on that particular day, the pending changes will apply at the conclusion of all games in progress.