I looked a bit over Traprat guide, have not played one myself but specifically for him this is what i believe you would want:
1. Notifies of any white/gray base, use Oil of Renewal and Oil of Luck until you are satisfied with the %ED and %AR.
2. Notifies of eth white/gray base, use Oil of Luck and be lucky (don't use Oil of Renewal cause it removes the Ethereal).
Then specifically for this Enhanced Shark runeword you may not want to add MOs before making the runeword (if you are lvl 124 128 132 136 or 140 then you could add from 1 up to 5 +%ED MOs, but it's unlikely that you are), so just craft and add jewels (if it's eth you need one jewel to have Indestructible) and lastly the Enhanced Rune (be sure to check docs to see how to make Enhanced runes since the update). Then as you get higher in lvl consider adding +Max Dmg or %Deadly Strike MOs or the Effigy to make it Ethereal if it's not yet Ethereal, just be sure you can equip it after.
Also if you want something specific it's easier to ask in the guide you are following or D2Stats threads, than getting general answers that may not help you specifically.