I think you old boys are being a bit tough, anyhow the question when looked upon objectively does seem relevent.The sim does not have the same sensation during many stages of flight, ie; it is unable to accurately simulate a yawing moment, and any g-force or lateral force is impercitable.Add to that, the fact that the sim is always more difficult to fly than the real airplane.
That being said this is my two cents worth on how to nail an engine failure on take off IN THE SIMULATOR.
1) - Maintain a positive fwd pressure on the controls, more than you would in the real airplane. (to understand this, next time you have a free play in the sim; fail the engine, lock the rudder and you can very easily control the direction of the aircraft simply by increasing and decreasing the down force on the nose gear.)
2) - Keep your eyes fixed to the end of the runway; this is the only sensation you will get of yaw.
3) - Don't jump the gun! Assuming you are above V1, even if the engine is banging away don’t input any rudder until you see the aircraft positively move on the horizon.
4) - Finally as standard, once the aircraft appears fixed in your point in space, lock the rudder!
Don't over control, scan scan scan. Once again there are no lateral forces to aid you in this so a good scan is vital.
Let the assassination begin...
KCW out.