Ok so here we go. First of all, you need at least level 1 and maybe a gold or at least 5s to start making your money. What i did is went into the AH and priced Strange Dust. On my server, usually its about 22 - 25 silver a piece, so then I go to the vendor and see if he / she has any to sell. If so they are almost always 7 silver, so I buy as many as possible and underpricece them in AH. Another way to do this instead of going to the vendor to buy them is:
Search in the AH for a levels 1 - 10 uncommon item in the armor category. With the auctioneer addon, the cheapest ones will be right where you are, so find something good and cheap, and Buy Out. Then, go back to your mailbox and dis-enchant it.
The pount of this is that people will have low level alts with enchanting who need mats and they can afford it, so they buy whatever is in the AH. So if they buy something for 25 silver that you bought for 7 silver... at a low level 18 silver profit is a lot of money if youve got but 6 or 7 to spare.
You can do this a fair amount of times to make a pretty worthy proit at a low-ish level.
Thanks for reading and happy gold earning