This is the third knife that i have made it is made from a railroad spike and is sharped to cut paper smoothly and i have put bees wax on it as some what of a polish and to stop it from rusting. I would like to know what you guys think and what suggestions that you guys have?

 

 

Looking good to me!

The fit and finish are pretty good for a 3rd knife.

If you drop the tang down a bit after the ricasso area, you can set it up so that your wrap is level with the spine of the blade.  That, to my eye at least, would look a bit better.

Treat yourself to some nicer material for your next one.  I won't jump on the rail spike band-wagon, but it certainly looks like you will make good use of some nicer steel, and I bet you'll like the feel and performance better once you get rid of the heavy spike head at the pommel.