I wouldn't stay and fight at all.
The Ottoman will keep producing villagers, putting them all on gold, shiping 300 gold as first shipment, then 300 wood for houses.
I had this strategy in the start of TWC, and it is just too hard to pull of, but DON'T stay and fight.
The spies are produced VERY fast and after having lost just a few villagers you will be behind.
What does work is herding, or I should say, its a must.
Do what musketeer dude says, and you are safe.
Age to colonial when you feel you are ready, you don't even have to hurry beacause the Ottoman will have to switch his villagers to food and wood after a while anyhow.