If you are one of the expansion teams, you can still set your preferences for the upcoming draft.
Totally Balanced ensures that all your key players are drafted early. For the first 13 rounds of the draft, you will draft 3 starters, 2 relievers, and your starting lineup. For the next 11 rounds, you will draft all the backups for the major league team (2 starters, 3 relievers, 2 outfielders, 1 infielder per positon). For the final 15 rounds, you will draft a balanced minor league squad, consisiting of 3 starters, 3 relievers, 4 outfielders, and 1 infielder per position.
Well Rounded builds a somewhat more rounded team. For the first 25 rounds of the draft, you will fill out your major league squad (5 starters, 5 relievers, 5 outfielders, 2 at each infield position). It is possible to draft the 10 pitchers first, then the fielders. During the last 15 rounds of the draft, you will select the best available player (regardless of position) for your minor league squad.
Best Available chooses the best player available during each round of the draft. The only exception to this is that it ensures that out of the 40 players drafted, you draft at least 10 pitchers and 15 position players. Hypothetically, you could end up with 10 relief pitchers and 40 catchers, but realistically this usually means you might draft 1 Short Stop and 5 Second Basemen, or 12 starting pitchers and 2 relievers. This strategy will get you the best players, but you may have to do some trading to fill some positions.