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When you first start the game, you will have the option to pick a character. They all belong to the same storyline, but the difficility is different. Easy, normal, hard - it depends on your pick. They are also sort of categorized, some are made for fighting and others for trading.
In the dark world of X3, where alien and human colonies coexist, one new technology is unleashed again - The Terraformers. They used to colonize worlds, making different planets suitable for human life, however once they get out of hand, the trouble began. Hence the name Terran Conflict.
Another aspect of the game is trading and fortune making. Money is used for ugprades, new ships, trading goods and more. Often your fortune will be your primary goal. You can make your own trading empire. If you are bored with the military content, this could be your goal - trading with other races, researching new destinations and exploring given opportunities.
If you are not a peaceful mind, however, then you can do battle. There are various missions in which you have to destroy or capture other ships. This is probably the place to mention that the game is full of factions, and as in most faction system, you gain reputation based on the missions you do for them. Another core part of the gameplay that will help you through the battles are the so called Wings. You can create a small formation of battleships under your direct control. There is also a navigation system to guide your way through.
When the battles get boring and you can focus on your bussines empire again. You can be one gigantic corporation that deals and trades with everyone and everything. It all depends on you, the game is thereotically endless.