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Also, what challenge rating are You talking about?
I am asking what is the challenge rating of the area that is giving you trouble.
Also,
PROTIP: if You see pirate ships spawning non-stop, they are coming from a town. Forego sinking ships and just get into the vicinity of this town – thid will prevent new ships spawning. (i.e. a town won't spawn ships if there are ship[s] of a faction hostile to the town near to it; for pirate towns that means any non-pirate ship)
If you do trading instead of questing, your profit can increase greatly (assuming you have the Diplomacy for it). Moving outside of the starting area raises the profits as well. 25% per challenge level, so challenge level 2 would be giving you ~75 gold per quest, thus giving you 4500 gold per hour.
None of these numbers take into consideration items that you will find as you sail about which can easily sell for quite a nice profit on their own.
I am not sure why it took you 6 hours to earn 4000 gold needed for the first ship.
As a side note, by challenge level 12 you will be easily earning tens of thousands of gold per hour from trading, and from selling items you find.
Really now?
I started from scratch on this game several times already. (various reasons...)
And each time I'd forego the first upgrade and go directly to schooner, which is the second upgrade and IIRC costs some 8k gold.
On my first time, when I didn't know how to play, it took me ~3 hours to unlock it.
On the rest of the runs, it used to take me a bit over an hour.
So, I assert You must be doing something very wrong if it takes You 6 whole hours to unlock the first upgrade...