Well, as far as cycling, it isn't really necessary because you can just hit the B key to bring in all the loot available close by. However, you can filter your contact list to just show loot by clicking on the little icon right above the contact list that looks like a treasure chest. Or, you can click the right-most little icon there (looks like some kind of tri-fancy little symbol thingy) which will show you all the possible targets out there and cycle through them with the t key, or just click on the ones that are obviously loot.

There is no realy way to lock a missile on someone. All they require is to be shot and depending on how good the ship you are going after is, it will either hit or miss. They key is to only fire missiles when the ship is heading straight towards you or when the ship isn't turning very much. Still you might miss. The different missile types that you can buy will have different destruction values as well as turning rates and speeds. If you want missiles that will hit more often, choose ones with a fast turning rate and quick speed.

Hope this helps.

Thanks for the reply.

As to the target cycling, I meant if there exists a keyboard shortcut for cycling through the available types. Don't want to leave mouse flight...

I bought Stalker missiles but don't seem to hit very often with them. Oh, well, practice time till march, 4th.

Ah...I see what you mean now...I could not find a way to do that and it was something I wanted to do as well. It does kind of stink having to get out of mouse flight to click on those icons. It would be nice if there was a key to cycle through the Important, Ships, Solars, Loot, and All filters. I have not found a way, but others may know.

Doesn't E cycle through targets and R targets closest?
I'm sure of R but not so sure on E
And for the Loot you must be withing 1000 meters of it to tractor it. So it's worth filtering your display for loot to make sure you haven't missed any.

In default E drops a mine. I don't usually keep my filter on loot because I just tractor everything in.

Let's get those missiles ready to destroy the universe!!