Save as much as possible and mug as mug as possible. Don't be a sap and give it back like me.
You're main goal right now is to get to max cash, $1.682 billion. That will earn you $67 mil a day in interest.
Do your dailys (slots, dig, dip & vote)
Save your points, you will need to to train.
Only train and do crimes naturally. Don't refill with points.
AFTER max cash you should set your sites in a Caribbean Chain for a house. You'll need to be in a gang or start your own to have a place to stick your excess cash so you can keep earning interest.
Do the quests. There are some good rewards out there.
Read the
RTS Wiki. It was written for version 1 but most of the important info is still relevant.
Start looking for a gang. You don't need to be powerful to be in a gang. A lot of gangs will take anyone just to get their numbers up. Larger gangs can do larger gang crimes. What is important is that you are an active loyal member of the gang. A gang will also be bale to give you much better gear than you can afford at your level.
Spend some time in the Tavern and get a feel for whats going on in the game. It's a social game and there is always stuff happening to different pirates. It pays to be in the know.
Read through some of the forums. They are funny, sad and generally amusing.
Let me know if you have any questions.