Originally posted by magilla666:

I think there are more than 6 potential locations, but I'm not sure exactly how many. Also, to jint_steam, you don't need to be running around through every inch of Black Forest territory. The popup is pretty long range. In my experience (8-10 full playthroughs plus several that were aborted) the merchant's bag will pop up just from sailing along the shorelines. Good luck!

I am basically just running through the Forest to get the map visible. I did try sailing for part of it, but I'm not a very good sailor yet. Figured I'd just run a while. I tend to run along the shore for a bit and then go inland until I hit a mountain or a place I've already explored, and then run back to shore opening up the map. I am getting tired of looking, so I may take a break if I don't find it soon. I probably need to take some time to practice my sailing and try that again.