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Be sure to watch the galaxy map and take note of the average levels you encounter in the system. Your faction missions instead will be at the described level.
For space combat you can use the drifting mode to evade and re-approach the enemy when your shields are up again.
Here's a tip to help you that the game never tells you. Use up Arrow twice to distribute max power to Weapons. Down Arrow once to reset. Left Arrow twice for max Engines. Right Arrow twice for max defenses (mainly Shield recharge).
Use ONLY Laser type Weapons against Shields (early game) and don't forget to load Shield buster Rockets.
I 100% guarantee you the starter Ship can take out many levels higher than your Pilot level, even without upgrading anything.
To that point, you can upgrade Ships at any Faction Hangar, which are always located in Hub Star Systems. It costs a fair bit of TY but keeping your Ship up to your Pilot level helps loads. You can upgrade more than that even but that's a much more in depth discussion.
Okay thanks for actually useful tip.
In my case i had to keep damage uptime close to 100% because enemy shields kept recharging faster than my lasers cooled down (i used rails).
Really? They felt completely useless to me, even if they hit they deal like 4k damage, which wasn't even 5% of my target's hp or shield bar.
I kinda stand by my point, there is no need for that money and time sink in this game, it's all pointless busywork.
And this sounds too much like a sunk cost fallacy...
Both require you even know about such mechanics.
Once you're in your 20's Pilot with a well upgraded and fit out Fighter Ship, you can take high level (50+) Bounty Missions which often drop Burst Weapons that are valued between 14-30+ mil, each. That's where the real money is but it takes a while.
Sounds slow and tedious, i felt like looting high quality crap from crates and selling it is better and can even save you some money on upgrades, because when i sold my loot from several engagements at 6 lvl + starter ship i got 2 mil already.
Cool, but kinda stupid it doesn't automatically redistribute the power among engines and shields while your guns are turned off.
Upgrade? You mean sell yours and buy a new one? Do i really have to swap ship every few levels?
I'm that guy, the guy who can't resist console commands. it's what ultimately killed ALL bethesda games for me. BUT, because this form of mining is a huge time investment (going out to the asteroid, setting up the mining, and the length of time you need to get some stacks), it doesn't feel as cheaty as a simple cheat command for money.
Given the fact that ship prices increase as your level increases, this was actually the only way I could see getting 140 mil in a reasonable amount of time so I could buy the mothership. These price increases mean that you should only do missions that give you ground experience to make money (you can get some ground experience from some space missions, i think the email ones) otherwise your ship experience will continue to increase thus increasing the cost of the ship.