Supervision, being at the centre of our tripartite psychoanalytical training, imposes on the supervisor an extremely important, complex and difficult task. Supervision is central in the training of the future psychoanalyst because the outcome of the supervisory process will eventually be an internalisation of the supervisor's functioning, and this inner functioning of the internalised supervisor will be crucial for the competent functioning of the candidate as future psychoanalyst. This complex and difficult learning process will be best fostered if the supervisor permanently strives to maintain his supervisory balance between the two supervisory positions he is to take in the supervisory process, that between 'teacher' and 'analyst'. This paper tries to demonstrate both positions in this process and to discuss problems of how to maintain them; and how to re-establish the supervisor's balance, and with it, the adequate psychoanalytic distance in supervision in situations where they tend to get lost.