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Also found becoming a merc for a faction paid like all my troop wages, allowing me to raid like crazy to make major moolah.
My ranged sharpshooter crossbows work every time. I have them attached to me and we run from side to side taking out their archers on the walls. So, they do work you just gotta maneuver them.
And yes, tournaments are pathetically easy since you can 1v1 your enemies with whatever equipment you bring in, just do it and bet the maximum every time. You can even lose a fight and still win sometimes.
Some of the later armor is so ridiculously powerful that you basically face no danger except on the highest difficulty, at which point there's only a mild threat.
I trained into horse archery and I can basically just kite every enemy in the game no problem (as in native I guess).
Yes, you'll need to make city charts of prices....then start buying low in one city and selling high to another city. Usually across the map are the highest prices of what you got on the other side and vise versa. For instance Velvet and Silks and Spice are the best loot in the game from the Rhodok side of the map. You can sell them high in Tihr and places on the other side of the map. Warm items are poplular in the snow areas and flax sells well in Tihr.
The other way to make a lot of cash is Pillaging and plundering a factions villages. Pillage them all then find a lord of that faction and ask forgiveness (if not at war with that faction). He'll ask for a small fee and you'll be forgiven and have all that gold you made still. Sometimes you have to find one that is close to the King as not every Lord is on the up and up with their king. But, it's easy to do and you can make boo coo gold out of it.
Of course the easiest way is fighting the map rats (bandits) of various types. The smaller your army the better loot they will cough up. Sea Raiders about the best loot of the bandits and raiding camps yields some high profits also. You don't have to have a quest to attack them. You just get more honor and stuff if you get the quest from a King.
All n all now most of my best income comes from looting and pillaging villages of factions I'm at war with. Do it sparingingly though or you'll bottom them out and won't have any to pillage for awhile. I usally pillage one go all the way back to Tihr or Rivaden and sell my stock. Sometimes if I don't get any iron or silk I'll sell out at Dhrimm since it's closer ad if I didn't get any good stuff not worth the travel all the way back across the map. There was a time we Nords were at war with everyone and the looting and pillaging was non stop because there was always something to pillage. :))
One good thing to remember" The SMALLER your army" the better and more good loot you will get from battles.
The principles still apply no matter what mod you are playing. Smaller means larger rewards.