What happens is that your friends have a 'friends page' option on their journal. When they log in they can read your entries (and that of other friends) on that page directly. They can also go to your page directly and look at all your entries at once that they have access to.

It has a bit of a learning curve to it, but isn't as complicated as first glance looks. The little toolbar with the management tools makes it easy. Just take your time, don't be afraid of experimenting and you can get really nice results.

Congrats!