This is the safest trade loop I've found in 1.111. Gives enough time for goods to respawn and very little outlaw activity with good profit. You might run into the odd taiga bandit, which are easy to slaughter, even when significantly outnumbered, or very rarely run into a forest bandit or sea raider if they get lost from their usually patrol route.
My trade order:
1. Tihr: Buy salt/fish
2. Dhirim: sell salt/fish, buy iron
3. Reyvadin: sell iron (if prices are mediocre here, sell half here and other half at Khudan, but there are more bandits around Khudan)
4. Curaw: Buy iron
5. Sargoth: sell iron (half here if prices are mediocre), buy flax
6. Tihr: sell flax (and iron if some left), buy salt/fish
7. go to step 2