When you guys enter the draft board, make sure you click the dropdown bar up at the top towards the right where it says RX LEAGUE, and click on the 5th one down to get to league 3 draft. The first one is from the first league & has already been completed.
I believe you can trade as there is a trade block. Also there will be a waiver wire up later this week I think. I was at work but the computer did a good job for me.