What setting do you have steering? Simulated or normal? Also, what inputs and which direction should I be steering? I'm having a hard time staying in control and usually end up spinning out or losing speed.
I use normal steering. As far as drifting, break or pull the e-brake (or both) and steer far left or far right, then counter steer in the opposite direction as needed to keep from spinning out. Fiddle the analog stick to find the right groove, it varies from car to car. All the while hitting the accelerator as needed to continue moving without moving too fast. If you are in manual you are able to control you speed better by redlining or allowing for more speed as needed. You may have to pull the e-break more than once if you speed/timing were off, and it is also needed if you want to go in a different direction.
Edit: It is similar to a fighting game where it is trial and error and a lot of practice. If you notice in the video I posted, there are no flags left and a lot of bricks are missing because of multiple spin outs and failures in different spots.