Custom lots on order entry

Is there a way to enter custom lots like 1.2lots in MetaTrader as one order?

Yes you can. Are asking about a manual entry or how to program it into an EA? For manual entry just change the amount in the volume box.

Thanks. I was under the impression you can't edit the lots in the box.

Your welcome.
You can also play with the default size if you click the 'tools' menu at the top of the platform. Then click 'options' and select the 'trade' tab.

does metatrader allow you to take some lots off (as profit or loss) once you're in a trade?

Yes you can. You can change the size you want to close in the volume box. You can enter a number different than the options in the drop down box. The number you enter has to be a trade size allowed by your broker. Not all brokers allow two decimal places.