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Improper leveling of your production profession skills can cost a small fortune. Heck, even proper leveling of some production skills can cost a small fortune. And keep in mind that equipment you produce using your profession will typically be slightly worse than equipment otherwise obtainable at your level via the Auction House and/or instances. It is therefore strongly recommended not to take on a production trade skill until you hit at least level 30, or better yet, level 70+. However, if you are determined to take on such a profession (particularly under level 30), read a suitable leveling guide in order to gain whatever skill level you desire for the least amount of money.
Alchemy is a crafting profession that can create potions and flasks, as well as some trinkets and mounts. The primary materials used are herbs. For potions and flasks only the Legion crafts have substantial demand as they are the only items that give meaningful performance increases at max level. Old world alchemy recipes that are profitable include Vial of the sands and transmutes.

Some players even turn this into their profession by systematically "plundering" vendors in the game world and then selling the items on the auction house at a significant markup. The reason why this works (even for items which are on unlimited supply at vendors) is, that many players don't want to spend time traveling to specific vendors to get hold of a recipe or skill book. They would rather pay a slightly higher price at their local auction house. In some sense, they use the auction house as a "super market" or "convenience store". So it is completely reasonable and legitimate to be the supplier for this convenience store and make money out of it.
Leatherworking is a crafting profession that uses various leathers obtained from skinning to craft leather and mail armor. You can make gold shuffling leather into enchanting materials through the rank 3 bracer recipes. Battlebound for Stormscale and Warhide for Stonehide Leather. The other main market for Leatherworking is crafting the item level 850 gear. I find that both Dreadleather and Gravenscale gear sells very well.
The most simple thing is TradeSkillMaster. This AddOn shows you quite an amount of information in the items tooltip. In my opinion, DBRegionMarketAvg the best source. It tells me the price, an item was posted on all EU realms in the last 14 days. Why not DBMarket? DBMarket only shows you the items value from your server in the last 14 days. This value often gets manipulated. Some people start to post an item with a 500g value for 500.000 Gold on the auction house for several weaks. As a consequence, DBMarket is rising towards 500.000 Gold.  If you use DBMarket with 100% and post your item for 500.000 Gold, nobody will buy it.
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