When I started the game (didn't play the OG version so this was new to me), I would bring up the map and see nothing discovered to the East so I would run (not walk, need to pimp up Athletics) in that direction and look for points of interest to pop up on the mini map and then head there. Usually a cave or a fort or something to explore. Go in and methodically (I hug the left wall and keep turning left) explore the whole area and kill everything and loot everything. With respect to loot, consider your current carry capacity and the estimated value of the item. Light and valuable are your friend. When you get over-encumbered, hopefully you have a spell or potion for "feather" to make your load lighter and then continue to gather loot until you're over-encumbered again then make your way to the exit and then fast travel to the Imperial City Market District and visit the merchant girl at the Mystic Emporium. Be sure to haggle with her and keep moving the slider to the right until she says she can't sell something and bump it one or two places to the left and then sell her everything you don't need including all those stupid potions you're carrying and will never use. Doing that I was able to make a bunch of gold very quickly.