I don't know about weight loss but it does work for things like panic attacks. I used self-hypnosis to control and eventually get rid of panic attacks.
I also took Inderol but that just lessened the symptoms, it was the hypnosis that stopped the cycle.
You really have to work at it, though. I wouldn't call it an effortless process.
Did you go to a therapist, or do it with a tape or something?
I agree. Hypnosis is not a magic pill. The one who is hypnotized must make a concerted effort to achieve the desired goal.