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You should base this decision on what do you want you station to accomplish. For example, if you want this station to simply produce some ware to ship to another station of yours, then autoprice works fine. But, if you want your station to supply a number of npc stations so that they'll always have materials for their own production, then it's better to set a fixed selling price (e.g. the average).
One relevant note: this autoprice is based on the stations own stock, it has nothing to do with the ware's availability in the larger universe.
Easy enough: use the trade filter in the map screen to see what's being sold cheaply and bought with high prices. Then set your station to buy and sell these wares at prices you got from the trade info. Some adjustments may be needed as prices in the universe will vary with supply and demand. Don't forget to assign some trade ships to the station so that you don't have to rely on npc traders!
Edit: don't build any production modules in this sort of station as they'll screw up the other trades.
Add this mod and fly your ship into a war zone with hop, sadly they aren't re occuring.
But the first time should be enough to get you a corvette.