Here's the method that I use ... though there are many different ones too.
1. Tracks with rubber shoes
- paint the entire track black
- paint the end connectors and guide teeth with gunmetal
- dry brush the metal parts with rust
- drybrush the metal parts with steel
- burnish the metal parts with pencil lead
- dust with pastels chalks
2. Steel Tracks
- paint the entire track gunmetal
- dry brush with rust
- drybrush with steel
- burnish with pencil lead
- dust with pastels chalks
Hope this helps a bit.
Happy Modelling and God Bless
Robert