Well, there are tons of dynamic clothing tutorials already, but here's the cheat sheet........

1.  Load your figure and zero

2.  Load the clothing

3.  Select your figure in the drop down menu

4.  Move the animation arrow down the timeline (10 or better, 15-20 is best)

5.  Inject your morphs  (do not worry about pokethrough)

6.  Go back to frame 1 of your animation timeline

7.  Go into the cloth room

8.  New Simulation

9.  Check cloth self collision on the first screen

10. Select your clothing prop

11.  Click Clothify and make sure you select the clothing, then OK

12.  Click Collide against and choose your figure from the dropdown and ground, etc. if it's necessary.  Ignore body parts that aren't necessary.

13.  Click Calculate Simulation button

When the simulation is finished go back into the Pose room, make sure your animation slider is at the last frame and render the image.