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, whether 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).
Orc fortress is located north of venore, you should set your residence to Venore in case something goes wrong.
First you pack your safety items, here's a suggestion of the items you should take and the reason.
Stealth Ring - at least 1 - Orc Berserkers can't see you if you're invisible but Orc Shammans and Orc Leaders CAN.
Stalagmite Rune - at least 200 - all Orcs are weak to Earth damge and this is your best shot at it. (also enchanting weapon with earth element may be useful, I personally don't like it)
Poison Field - Poison Wall - Poison Bomb - at least 10 poison fields, 2 walls and 1 bomb - Orcs are weak to earth dmg, they will not step on it unless attacked, it may prove useful in dangerous situations, use it to trap yourself to kill one by one.
Start by exiting Venore on the top-left exit, marked with the circle.
The circle on the bottom is where you get after going down the stairs in Venore.
From there, just walk to the upper circle, which is a bridge.
You will face weak monsters, bats, bears, adventurers, amazons, snakes and a few other weak creatures.
The circle on the bottom is the brigde mentioned on the picture above.
The upper circle is the 'beggining' of some stronger creatures.
On and around the white circle there are Rorcs don't get swarmed as they may deal some damage, just 'keep going up'.
On the gap from the white circle to the red circle marked 1 is where the orcs are, this is where it all begins.
This entrance point has around 2 berserkers, 1 shamman, 1 leader, warriors, spearman and orcs - This is 'easy', still do NOT rush in, kill them one by one, there's no need to hurry.
Orc Berserkers are vulnerable but can deal High dmg at times, do not underestimate them.
From here on the hunt begins.
Red Circle 1 has, mostly Orc Shammans and Orc Berserkers
Red Circle 2 has, mostly Orc Berserkers, some Orc Shammans and one Orc Leader.
Red Circle 3 has, mostly Orc Berserkers, some Orc Shammans and a couple Orc Leaders.
Red Circle 4 has, mostly Orc Berserkers, some Orc Shammans and a couple Orc Leaders.
What you're looking for are 'Broken Shammanic Staff' for profit, only Orc Shammans drop it.
You may hide some lootbags with Halberds and Battle axes dropped from the Orc Berserkers.
You should take Sword Rings and if you're lucky a Warrior Helmet from Orc Leaders.
Orc Leaders have a High defense, meaning that if you're taking too long to kill it, use the Stalagmites.
I hope this helps. : )
You can and should, of course, check some Youtube videos on the outskirts of Orc Fortress.
I would avoid going in the fortress itself for now due the high amount of berserkers and other creatures (there's a spot with 3 Orc Warlords and another with 1 Orc Warlord, underground)