Clueless is traditionally set at about noon on a Tuesday. Most people copy and paste the preamble, remembering to add 1 to the number of the competition and change the dates and the word!
You judge all the entries after the closing time you've selected, which I think for clueless is generally 6 pm on Wednesday (heck this) All GMT.
When you give your choice, it is up to you whether or not you give reasons and/or present some encouragement (as aristo did this week)
Traditionally you should also award a prize. This is usually a YouTube video but anything which can be accessed digitally is good. Some people connect the two things , the word and the prize, but this is up to you