Hello and Welcome on Calypso
Get you some Axe 1x0 they go usally for the trade terminal value +0.5 ped.
Start hunting Exaosaur and Combibo young near Port Atlantis. When you can afford, get you at least goblin or pixie armor set and a fap5.
To the Economic
The axe 1x0 does maximum 29 damage. It is the most economic wapon in Entropia and no matter what big cool über gun you will own some day, they have all a more bad economy
Entropia is designed that way you not cover your repairs all time you hunting. Thats how high payouts in the hall of fame and the maintaince/profit from the company who run PE getting financed.
Hunting with an Axe 1x0 is a good way to reduce loses, also, and thats really important get you some teleporters with more places of easy mobs. The loot differs in the same area over time. You can hunt in a area where you get really cool loots and a hour later you could find almost no loots on the same spot. The areas where the Loots good and where bad shuffle randomly. If you see you have a lot of no Looters or bad Loots, brake your hunt and come back in a few hours. Hunt elsewhere that Time.
Generally bigger mobs with more hitpoints mean bigger chance to loot something cool and valuable. But it will also cost you more to kill this mobs and better loots are possible but not guaranted.
To get Started in PE i would Suggest you :
Sell your Axe 3x0
Buy you some Axes 1x0
Gather Sweat until you lose that Ability or even better
and recommed Deposit some monney to get started.
Buy a cheap Fap5 that have a low TT value and load as mutch peds (max 15 ped) as you like in it on the repair terminal. Get you a goblin or better a pixie armor set.
Long duration hunts give you a better chance to brake even as a short hunt.
Also think about the good and bad loot area time shuffle.
Start over with Meele to build up some Hitpoints, but dont become too mutch addicted with it like i do 
Orientate you on the Prices in Port Atlantis to sell your Loots. Never ever sell something on the Trade Terminal. Patience is a virtue , never buy something just because you want it quick bevore checking the marked price. Dont thrust anyone bevore checking the marked prices on external websites.
Find some friends , have fun , good Luck and big Hof :tongue2:
best Regards
Fiona