No, your self-awareness will be present through every moment of the process, much like a movie can still make you emotional even though you don’t forget you're watching it on a big screen in your living room.

Hypnosis is a natural state all of us enter and exit several times a day. From that half-sleep daze you feel before you’ve had your coffee in the morning to that time you missed your exit because you were daydreaming while you drove, we’re all familiar with the hypnotic state. It is the state of hyper awareness and focused attention. It is a natural state into which every one of us experiences several times a day while watching television, daydreaming, and in deep thought. 

No. Memory loss is not a part of the process. While there are instances where the client does not recall the immediate session, they will always regain the memory within the few minutes after.