What your going to need is the following:

Alchemy 525 - Needed for all the recipes
Herbalism 525 (not required but good to have for herb grinding)
Transmute Master - up to 4 extra transmute items (or up to 60-64 Elements)
Elixir Master - up to 4 extra elixirs AND flasks
Potion Master - up to 4 extra potions
Starter Money (1000g~ can be less)

Your alchemy mastery will determine which items you want to make, i do suggest either transmute or potions!

Now, firstly lets look at the our transmutes.

Transmute: Living Element - Transforms the essence of life into another element. The exact result is not known ahead of time.

Now this is a great money maker, what the transmute does not tell you is that you can "control" the outcome of the volitiles you get, i will explain.

using this transmute in one of these zones will give you the following.

Mount Hyjal - Volitile Fire
Vash'j - Volitile Water
Uldum - Volitile Air
Deepholm - Volitile Earth

now that you know that you can compare volitile prices and make the correct decision.

When times are bad and you have no Volitile Lifes remember you have another powerful transmute that can be used, and that is

Transmute: Truegold - Transmutes pyrium bars into truegold.

either transmuting your own mats to make the bars to sell is a large profit and even if you dont have the mats, sell your cooldown! of course this is server specific but i get 120g per transmute of this! and being a transmute master means you can keep the addtional proc(s)

Now, lets move on to the gems. Where looking to look at the most selling gem on any server. the red gem Inferno Ruby

Transmute: Inferno Ruby - Transmutes lesser red gems and the essence of the heartblossom to create an inferno ruby.

this transmute requires the following:

3 Heartblossom
3 Carnelian

Before you buy these from the AH remember, you have dailys to do in deepholm and thats where Heartblossom grows, you should not have to buy these herbs! Carnelian on the other hand comes from mining nodes, random chests around cata areas, and from prospecting however depending on your servers price these can be bought easily. now lets do the math

Carnelian = 30g ea
Heartblossom = 7g ea (not buying but factoring in)
Inferno Ruby = 200g

3 Carnelian x 30g = 90g
3 Heartblossom x 7g = 21g
21g + 90g = 111g, thats a profit of 89g not including procs!

The same method can be done for the other gem transmution but i find inferno rubys to be the best.

Good areas to farm Heartblossom / Daily Quests

However remember to do the dailys also, its free gold, rep for a faction and you can herb on the way from quest to quest!

but before i end there i want to dwell onto potion and flasks quickly.

Flasks are selling for around 300g~ on my server currently but these prices are going to drop quickly, if the same is said for your server i would make tons of these and sell them asap! i tend to see the more dps flasks selling better due to spec ratio, these flasks are:

Flask of the Draconic Mind - Increases Intellect by 300 for 1 hour
Flask of the Winds - Increases Agility by 300 for 1 hour
Flask of Titanic Strength - Increases Strength by 300 for 1 hour

now for the potions, there are only four potions i think are worth making at all, this can change from server to server, these potions are the following:

Potion of Illusion - Transforms the imbiber to look like someone else.

Basically a noggen fogger that lets you use *Some* abilities, the transforms varie buy the best i have seen is a devilsaur now these sell like wildfire for as much as 10-30g ea for a low craft cost. i can go to the Vash'j grind herbs for a hour can get enough mats to make quite a few of these!

Video on the potion (i dont own any rights etc to this video)

Potion of Treasure Finding - Allows you to sometimes find extra treasure from monsters in Mount Hyjal, Vash'jir, Deepholm, Twilight Highlands and Uldum. Lasts 1 hour. Effect persists through death.

A very interesting potion indeed, having this potion buff will allow mobs to drop a Tiny Treasure Chest when you loot a monster, the chest contains 3-5 Gold, has a 75% chance to contain 8-15 Embersilk Cloth, and a 15% chance to contain a Volatile Element.

Embersilk Cloth per stack sells for around 90g-200g fluxing, pure gold is always nice and Volatile elements, no matter which always sell for a good 10-50g a solid potion to have for yourself and also to sell. quick note to tanks who get insta queues for dungeons, these potions will work in there and you will get LOTS!

Deathblood Venom - Fills your veins with deadly poison, causing you to sometimes poison enemies that strike you in melee for 1900 to 2100 damage over 8 sec.

Great for boosting in low level dungeons, great for aoeing farming, great for tanking, great for pretty much any time a mob is hitting you, a solid potion that sells "Decently" well.

and last but not least the Potion of Deepholm - Teleports the imbiber to Deepholm.

Smart players will buy these to get from wherever they are to deepholm and then use the stormwind portal there to get to stormwind, i use these all the time when im doing Archaelogy leveling in outland to get back to stormwind, these suprising sell really well and people will buy these, keep a lookout on the AH!

Hope this gold guide helps some of you out!