There's a good chance you can buy the raw materials for 25% - 75% of the going rate of the finished item, or mine them for free. The fee for an 8 hour auction is only 1 silver, so you can afford to re-auction rods that don't sell the first time. Be careful of making too many rods or other parts of a kind at once, though, as you may get stuck with them for a long time when others produce the same item and set a cheaper price to it.
The old popular example was the http://www.wowhead.com/item=47257. This item differed on my server from a high of 6k to a low of about 3k. When the price was down at 3k, I would buy a few of these and just wait a week. Throughout the week, I would put in trade and the auction house that I wanted 6k for it. I would then immediately go onto an alt and say that I only wanted 5200g. Sometimes, I would get the 5200g and be a very happy man, other times it would take more patience. However, almost always, by the end of the week, the other sellers had reposted for around what I wanted. This gave me a huge advantage. Now, the price ceiling was no longer 3k on the auction house, but 5k. I could now easily sell the few I bought for 4 or 4.5k, which is a huge 50% profit from the 3k I originally invested.
Elixirs serve the same purpose as Flasks, but the buff expires if you die. You'll only use these between 1-70, generally speaking, until you can start buying Flasks which persist through death. Try not to die, and carry extras just in case. If you can't find an Elixir with the stat you want, look under scrolls, since they count as battle or guardian buffs as well.
Now that you have the addons and the websites needed for success, you are ready to make auction toons. You will want two auction toons, one on the same faction as your main toon and one on the opposite faction. Do not use your main toon to make the auctions that get you gold! This is one of the greatest mistakes you can make because after a while, people will get annoyed with your prices and selling quantities and begin to blacklist you from groups and some will even boycott your products. Do not risk this happening to you, but rather, create an orc for horde and human for alliance and get them outside the nearest auction houses in Orgrimmar and Stormwind respectively. (As a personal preference, I tend to avoid names with bank, mart, or sell in the name because when negotiating outside of the auction house, you seem less personal). All the addons we downloaded should be enabled for these characters as well.
Once you have your potions, proceed to complete all the bonus objectives in your starting zone. This should easily level you to 92, where you can proceed to Gorgrond. Interesting enough, for some reason many Gorgrond quests are worth nearly double the experience of quests in other zones. Maybe this is a bug, maybe intended, I'm not sure. But I actually recommend you do all the quests and bonus objectives in Gorgrond. For your outpost choice, I recommend choosing the Gladiators, since they give access to more treasures than the shredder IMO.
Profit is only created if you make sure your costs are less than your earnings. This is not so much an issue for gatherers who simply trade in some time and effort to gain their wares, but for production professions, this must be kept in mind. Many high-end items that sell well require materials that cannot be provided by the gathering profession normally paired with your production profession. To craft these items, purchasing the raw material from the AH or another player becomes necessary. You must keep record of how much you spent to obtain these materials, or else you may price the finished product inaccurately, either too low that you sell it at a loss, or too high that you can't sell it all.
Obtaining Items from the Black Market Auction House Everything about the Black Market Auction House, including unique items for sale, how to place bids, and where to find the Auction House. Professions in Battle for Azeroth Professions in Battle for Azeroth, the next WoW expansion after Legion, have received a significant update, with many new recipes as well as a significant skill squish. In this overview, we'll highlight the major recipes, reagents, and useful items each profession offers. Obtaining Blizzard Shop and BlizzCon Vanity Items How to purchase and collect all of the mounts and pets from the in-game Blizzard Shop and special promotional events like BlizzCon. Obtaining All the WoW Trading Card Game Items Learn all about the quirky Trading Card Game items, from spectral mounts to weather machines, as well as look-alike items that are easier to obtain.