You're already getting a ton of answers, and the best cure for #1 I've found is to do what some others have said and get out of the crowded systems. This will also lead to better trading since the markets won't be oversold and diluted. Use the galactic map to find an out of the way spot with a mix of alliance/fed/empire systems and make that your home base.
For pirate hunting, I've found that resource extraction points are the best place to find them. It seems like there are always one or two in every one I visit, especially in anarchy. And if I fly around for a few minutes without finding a target, I jump to supercruise and head to the next one over, or just turn around and hit the same one again for a refill. There are stretches when they're hard to find but for me I can wrap up a 5-7 pirate mission up in 45 minutes tops.
As for trading, people are saying the market fix has been a good correction, but I've made most of my money doing deliveries from the bulletin boards. The ones where "Faction X is seeking 8 tons of Y for 25,000 credits" are my favorite, especially if I can get three or four going at once. I generally hang around the same neighborhood and have a feel for who will have what commodity. So, my transaction list will look like "3 tons of gold for 32K," "8 tons of Coltran for 14K", "2 tons of Palladium for 38K", "5 tons of Tea for 13K" Every one of those Bulletin Board missions pay out better than any regular trade by a wide margin, and always leave space left over in my Cobra's hold for other stuff. Plus, as an added bonus, the faction I support loves me, and it's all legal. If you haven't done so, try them out. They might become a full time job for you like they have with me.