As a Free Account and a Knight you're bound to some limitations.
All Knights attack one target at a time.
Free accounts can't use premium spells, therefore you cannot use Exori, Exori Min and so on to attack multiple targets when hunting.
On the 'waste' issue you're also on a though spot, as a free account and a knight you can't really do much in terms of 'Profitable loot'.I'd aim for some creature products for profit, wether it's amazon for protection amulets, orc shammans for broken shamanic staff but...
I'd suggest trying orc fortress (there's a 'way' to hunt where you won't die and might be profitable, do not attempt to just rush in, if you even consider getting in there don't forget a STEALTH RING, it can save your life).
Thumbs up and I'll try to provide more information on the hunt.