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If so then that mean the offer and demand have to be in same sector
Well, your auto-trader can't sell something if there is not both offer and demand in the system it is in. Once they get skilled up and can use the better version, it matters less, but to start you want something that you personally know is both being produced and consumed in the area you set it too. They can only do their function if they...well...can do their function...
There is a trade offer 'memory' for want of a better term. If you, or one of your ships, goes to the station they can update the current offer on quantity, price, all that jazz. Satellites let you see this info as is currently, without having to physically go there. So yes, satellites are very very helpful. Advanced even more so even with the cost since you can cover multiples with a single advanced much easier then with a standard satellite. Without 'knowing' the current price, the trader uses what was known... which may or may not be current. Or even valid anymore, so it may fly to a station to try and sell stuff when the station doesn't need any.
No, no license needed. The trading license lets you see all stations, their wares, their prices, everything about what they do without having to physically see them. This does let you remove satellites, but you have to keep your rep up...and satellites also serve the purpose of letting you see *ships* which is at times very useful.
Any other tips or requirements? Naw. I'd throw the pilot books you can buy from stations at your traders, get them that bit better. The more trades they do, the better their skill improves, so honestly? I wouldn't try to make 'big money' off them, just find an area that has both supply and demand (energy cells are awesome for this), and let them go do their thing.
I would also look into miners. If one of the sectors that has ore/silicon happens to spawn a refinery for either of those? Money. Plus....yet again, it gets that pilot skill ups, so they can be upgraded to advanced trader/miner or be used elsewhere.
Poke through mission rewards to see if any will push your 2 star pilot up to 3 stars.
Scanning of leaks from EMPs can sometimes give discounts for a while.