For starters the best way to make money in this game is to trade. At higher levels and when the gaming interface is further developed, it may become possible to make good money robbing.
To start: you can't go wrong with a fleet of sloop lvl2's. When you can, you want to upgrade to hanno's then again when you can, upgrade to dias'. Build a few Da Gama's. Then base your fleet on columbus'. This is the way to get the most benefit for the least money. To start out build a fleet and Load it with cargo then go as far as you can among the ports you have started with. Deliver the freight, buy more and come back. As time goes on, You'll want to explore more ports. And build more fleets. And establish more docks. Follow the quests the game gives you. Check on how much honor it takes to get the next lvl of nobility and upgrade as soon as you reach that honor level. don't go too far past it or you'll lose the extra honor points.
To start: you can't go wrong with a fleet of sloop lvl2's. When you can, you want to upgrade to hanno's then again when you can, upgrade to dias'. Build a few Da Gama's. Then base your fleet on columbus'. This is the way to get the most benefit for the least money. To start out build a fleet and Load it with cargo then go as far as you can among the ports you have started with. Deliver the freight, buy more and come back. As time goes on, You'll want to explore more ports. And build more fleets. And establish more docks. Follow the quests the game gives you. Check on how much honor it takes to get the next lvl of nobility and upgrade as soon as you reach that honor level. don't go too far past it or you'll lose the extra honor points.