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Trade can be viable but heavily depends on your map and is more about making back what you'Ve spent during travelling, so it's more an offset then a profit thing.
Best way to make lots of cash mid and lategame is indeed loot, especially weapons and armors, the higher the tier, the better.
Noble War Crisis can easily yield sellable loot for a single big battle of 15k
Orc weapons sell well too
EDIT: A very reliable way to make some insane cash with no real effort is the Arena in the southern city states. As long as you got 3 to 5 'good' bros, you cann just chill there and take a fight every day, as long as your bros aren't the grediest ones.
It's not the biggest cash infusion compared to other ways of getting money in the game but it's steady, reliable and both low in risk and cost
Repair any pieces of armor worth 2000+ (when full)
Everything else you sell as is. You'll start making profit in no time.
Make sure to do this before day 40. Before day 40 the fights are easy, with some being against 2-3 low enemies such as thugs.
Day 40+ The enemies get harder. Still a great source of cash just a little more risky with raiders, leaders, and southerners with nimble showing up.
https://steamcommunity.com/sharedfiles/filedetails/?id=1778763225
Selling the right items you loot is far more profitable, not tier 1 though.
I recommend using mods that display buy and sell price as a beginner from nexus, possibly also one that display what contracts you are accepting which i use myself, i never liked the idea of not being able to tell beforehand.
The more you can raid before going to town, the better.
The 3 stars contracts can get you above 6000 crowns easily, and I've seen some barbarian king hunting above 10000 crowns although you need to be ready for something tough.
Usually, you find them with noble contracts. Note that those contracts are almost always the same and spawn contracts in specific areas. So be sure to check the pattern and to take the contract when you're close to it, you'll save time, meaning saving rations and crowns.