what kind of tournaments are there? and when do they take place?

The most common tourney is a knockout format. Basically last man standing. Most tourneys will have a bot sent out first to advertise in-game, informing you of the room name, prizes and mod. You can also check out the Game Events board, which will tell you what's going down and when.

thanks, but some tourneys say 3rd dan and up! I can't go to them right?

Well if a belt is specified, a restriction is probably put on the room, so probably not. Even if a restriction isn't put on you may end up being kicked. Most tourneys aren't belt restricted. I know mine aren't anyway. ;)

You can also make tourney's if you can find someone in command of the "Promobot" or become a PT. :<