This paper will provide theoretical and clinical evidence for the significance of relating to and dissociating from the object in the development of a regulatory function. A selective review examines psychoanalytic views concerning the interactive nature of innate and environmental factors in development. The role of trauma is also considered as a contributing factor in individual differences. Relevant clinical material is described from two sessions in the treatment of a traumatized young woman with bulimia, focusing on the regulatory function in the therapeutic relationship. The patient frequently dissociated from the therapist as object and substituted the resulting loss of regulation with a pendulous movement between over-indulgence and deprivation. This created significant implications for treatment. The clinical findings suggest that the inclusion of these different aspects may be necessary factors in understanding the developmental pathway from intolerable frustration/impulsivity to an internal sense of containment.