I appreciate the high value of gold trading, but also consider aquisition with your merchants.
I have found in my current Byz game, by holding merchants on the milan/venice textiles, and 2x silver mines west of vienna, you can 'snaffle' a lot of enemy merchants from the catholic factions and still have time to step back onto resource. I do tend to place 6*+ merchants in these reigons, and quite a lot of the chaps are over 10* by the time they hit their 40's
I train all merchants in nicea, which in my game has master merchants guild, is second/third place in revenue with constantinople/antioch and I only have a level 2 church in place, so all my merchants are born in 20's/4* or 30's 5* with a set of 4-5 good traits.
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