But what am I supposed to do? Steer trade in each asian nodes toward europe, Hoping it will ed up in my main node?
Or just collect directly with a merchant and the 50% penalty?
I any case, for it to be worth it, you really have to establish a protectorate monopoly over an entire node, and even there it's barely around 10 gold max. For the the troubles of maintaining a big colonial empire, having half you army oversea, beating Other Europeans at the race, the reward seems pretty shit and a net loss compared to american colonies or just blobbing in Europe.
Am I wrong?
Also, how does one deal with having lightships all over the nodes? Seems like a micro nightmare to protect them when war is declared. And Hiding them will result in a huge loss. Not to mention, you will probably lose a big chunk to surprise attacks. Are you supposed to spread them all around, or are they just useful in you main node and the 2 other ones upward?
You are not wrong, trade has been nerfed pretty significantly from the time of the release, you cant make dozens of thousands any more. On the other hand if you get few idea groups with bonus merchants you should have enough to steer trade anyway, especially if coupled with decisions like eastern trade company.
The main point is steering very rich Eastern Asian and Indian trade all the way either to your capital trade node or to a trade node which you control ~100%. And yes, managing light ships is micro intensive and I usually lose most of my trade fleet each time a war is declared.