Based on the salary cap, how much are you going to spend on pitching, and on offense? Determine how many quality innings you will need. Is there AAA available? A DH in use? Determine what you can spend per inning, and per plate appearance. In an open league, if I'm looking to draft 1,300 innings with half of the $80M available, then I'm looking in the $30000-32000 per inning range. I will spend less if I can find effectiveness cheaper, yes? This is a guideline. Trial and error is needed to fine tune building a roster. I suggest that you watch what veteran owners are doing to be successful.
Settings must be set to advanced, down at the bottom of the draft center. There are a multitude of search parameters available.
Read the FAQ pinned threads, then read them again. There's a ton of good info to get you pointed in the right direction...