Below is an overview video and detailed walk-through on how to easily use Alchemy to make a good amount of gold every day. I'll be comparing all three Alchemy Master specializations, Elixir, Potion, and Transmutation. Alchemy makes me around 2,500g++ gold a day in profit!

• WoW Alchemy Gold Guide Part 1: Overview - Purchase mats and sell various Alchemy items. I'll be comparing all three specs for Alchemy and which items I found to be the best sellers.
  Estimated daily time spent: 30minutes.
  Begin by maxing out Alchemy.
  Check out my Alchemy Leveling 1-450 Guide for a great way to level Alchemy.
• Patch 3.3.3 Alchemy Gold Guide Update!
• Alchemy Transmuters can rest easy with eternal prices low and saronite prices holding making transmuting Titanium Bars and Metas nicely profitable.
• Alchemy Elixir specs can also sit back and relax as while Flasks prices have plummeted, so has Frost Lotus making everything balance out to an above average profit margin.
• Alchemy Potion specs should have seen an increase in sales with all the Icecrown Citadel raids and while material prices for the most popular potions have increased slighty, so have the overall sale prices. That being said, Alchemy Potion and Transmute specs won't make nearly as an Elixir spec but enjoy less competition and headaches.

WoW Alchemy Gold Guide Part 1: Getting Started.

• First, get the elixir specialization; this will allow you to proc an extra 2-8 flasks.

  To obtain the quest to get the specialization, simply speak to Lorokeem in Shattrath's Lower City. Be sure to pick the "Master of Elixirs" quest if you have the ability to run Caverns of Time: Black Morass. If you have trouble finding a group for BM, which can be quite a pain, I find getting the "Master of Transmutation" quest is much easier. The transmutation quest will require not instance running but instead the purchase of four primal mights (About 200g for four on my server). Then travel to Netherstorm and see Zarevhi located at the Stormspire. Once you complete the quest unlearn the specialization from Zarevhi for 150g and return to Lorokeem in Shattrath's Lower City where you can instantly learn "Master of Elixirs".

WoW Alchemy Gold Guide Part 1: Making Items.

• Once you have got your "Master of Elixirs" specialization you can finally concentrate on making Frost Wyrm and Endless Rage flasks; sometimes Stoneblood can be good as well but these two will be 90%+ of your sales.

  This makes perfect sense due to raid makeup. Melee and casters make up the majority of the raid with a few left being tanks. Casters includes healers as 99% of all healers do not require extra mana and therefore Flask of Pure Mojo barely sells and isn't usually worth the time or effort.

WoW Alchemy Gold Guide Part 1: Listing Items.

• Now that you have made all of your flasks, the next step is to list them on the Auction House; selling in trade as well is also a good idea.

  For flasks, I recommend listing them for only 12 hours as you may need to remove them and add them back to undercut your competition. There has been countless times when I have been at undercut wars for over an hour with the competition eventually giving up. Remember to undercut all competition by one silver; anything more is overkill. Never let up on the competition either. If you can, list your flasks everyday and let your presence be known. It usually takes about a week or so for my competition to give up, and trust me 95%+ of them will give up if you are persistant enough. Currently, only one of my competition still lists flasks and it is very rarely.

• A great way to keep track of your competition is to add them to your friends list; if they aren't in a city you don't have to worry about them as much.

  I usually make a note about them saying something like, "new flask competition," and once they are no longer listing any flasks I will change it to "defeated flask competition" just in case they decide to come back.

• You'll also want to list the flasks from 5:45pm to 8:30pm; which is your peak time aka raid time.

  This is when most guilds are raiding on any given server, although yours may differ.

• During any given week the amount of flasks being sold can vary from day to day so start off with about 60 each of the Frost Wyrm and Endless Rage and work your way up; even if you have a few left over it's not a loss as there is always tomorrow.

  Tuesdays and Wednesdays, which are your peak days aka raid days, you'll want to have a decent stock to sell out of. These days are when most guilds clear Ulduar and Naxx on any given server although yours may differ.

• Once you get the hang of how much you sell begin purchasing mats during the weekend; they are typically the cheapest on the weekend.
  The main reason for this, is most players aren't actually raiding on the weekends and have a lot more time to gather mats. With the abundance of mats comes the simple economic rule of supply exceeding demand which leads to lower prices. This doesn't mean 100% of the time they will be cheaper on the weekend but instead it makes it more likely. After you get a feel for mat prices you can purchase them throughout the week for the lowest prices.

WoW Alchemy Gold Guide Part 1: Final Suggestions

• Checking on mats everyday with get you familar with who sells what.
  Pay attention and take a look at who is selling mats all the time and message them to sell directly to you at a discount. This will save you big on the craft costs. I have countless farmers listed on my friend's list who I deal with regularly to get the cheapest price possible.
• Finally, World of Warcraft isn't just about making gold and really should be the smallest part of your playtime.
  I hope this guide will help you get rich but at the same time free up farm time so you can actually enjoy the game for what it is meant to be; fun! So, don't sit at your computer 24-7 just to make gold. Go out, raid, PvP, whatever, just make sure to have fun (^_^)v.