TL;DR:
Check this out before looking at my deck. These decks are guaranteed to work, you are taking a risk by using my improvements. Also, if you're new, I would recommend farming bronze. It's much easier, and you'll get more rares. With silver, you'll get more money, but it is 3x as harder and takes a bit longer.
http://elementscommunity.org/forum/community-recommended-decks/bronze-and-silver-arenas/My budget improvements:
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58s 58s 5f2 5f2 5f6 5f6 5gi 5gi 5gi 5gi 5gi 5gi 5gi 5gi 77e 77e 77e 77e 77e 77e 7dp 7dp 7dp 7dp 7dq 7dq 7dq 7dq 7dq 7dq 8pm
Guaranteed to work lava rush: Aim for this:
The Lava Rush (Credit to ~Napalm)
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5fc 5fc 77e 77e 77e 77e 7dg 7dg 7dg 7dg 7dg 7dg 7dm 7dm 7dp 7dp 7dp 7dp 7dp 7dp 7dq 7dq 7dq 7dq 7dq 7ds 7ds 7ds 7du 7du 8po
Remove the death, add more fire and earth.
To be honest, assuming this is a first attempt, that is good indeed.
For a first attempt, but I wasn't perfect either.
Why these changes are good:
1) Unless the deck is stalling, using hourglasses and SoBra and golden nymphs, there is absolutely no reason to ever make it anything but a 30 card deck.
2) What's the death doing?
Bonewall has the potential to be invincible, but it requires an especially tuned deck towards doing so, which your deck certainly is not attuned. Titanium is one of the better shields of the game, and I would recommend it over bone wall, because your method of attacking is bone wall.
Earth and Fire have far better Creature Control (CC) than death. I haven't included creature control, because I don't think I need it, but if I was, I would put in basilisk blood or fire lance. Two basilisks, most probably.
One of the simpler ways of making a deck that's effective, is to build your ENTIRE deck around 1 or 2 cards.
In this case, because lava destroyer is what's dealing damage, we're going to build the deck around lava destroyer.
3) Lava destroyers get stronger when you feed them earth quanta, so we want a steady source of earth quanta. Gnome gemfinders do the job, but I would add some pillar/pendulum support so that we don't get screwed over by CC. We want lava destroyers to get out early, so cremation is also a good choice. Minus the death, that would be a very good deck.
4) You will have excess earth and fire quanta. Spend the exceess fire on dragons to deal more damage, and the excess earth on titaniums. You don't want anything too expensive for earth, because you've got to have a steady amount. Go wild with fire, though. If you had a card called farenheit, I would recommend that (It's fire's rare weapon, it gets stronger the more fire quanta you have.)
5) If you decide to upgrade the deck, You should drop some pendulums and add some fire lances. I would not recommend upgrading the shields, because they will then cost more, and ditto the dragons.
I was pretty close to the accurate/good version. Yay!