Both the E46 and E36 have lots of torque. I did the same thing on the same oval with my E36 M3 when it was standard and then again when it was chipped.
Don't do clutchdumps with your car. This can cause serious drivetrain damage after a while.
Me and friends always go drifting in the weekend when it's wet. On a wet surface it's best to practice. Drifting on dry surface is much more difficult and you'll get real hard tankslappers if you're late with correcting the car from the drift.
The following works well for me when drifting on wet (and dry):
* Seek for a good long corner where traffic can be overseen and make sure there are no curbs!
* Steer into the corner, steer a little sharper then the corner actually is.
* Now there are two ways to 'set' the car and be able to drift:
1. apply more gas
2. lift off the gas and then reapply some more (this will cause unbalance in the car and it starts to slide)
* Correct the car by steering back and hold the gas, you'll notice that the car will follow the corner while your frontwheels are pointing out of the corner now!
* The last part is the most tricky part, you're now drifting but you want the car stabilized again. You now need to steer just like following the corner again but do it easy! To fast or rigorous corrections will make the car uncontrollable and you'll end up making a 180. (hold the gas while correcting the car again). You van also get your foot off the gas, the car will settle then as well but it won't be as smooth as when holding the gas!
Happy practicing :-)
DO NEVER DUMP THE CLUTCH, THIS DAMAGES YOUR CAR!
The above only works for bimmers with LSD (Limited Slip Differential).
* If you start to see in black and white, then you know you are pulling enough G's
* I only use the brakes so i can accelerate all over again
* Drive it like you stole it