What are good ways to drop pounds as a type 1 diabetic?

Careful management: This is not easy. If you eat less/exercise more, you can become hypoglycemic, and then you need to eat. You can lose weight, but you need to be talking regularly to your diabetes provider (endocrinologist probably) . First, you need to be willing to test glu 4+ times per day. You should be on an Insulin regimen that gives you more control, such as basal/bolus (eg lantus/novolog) or a pump.