It doesn't mean to literally be your own parent,shattered sanity,it means to treat yourself how you wish you had been treated,how you should have been treated.

And yes,you can read to yourself,hug yourself,love yourself,etc.

I have a loving kindness guided meditation that I listen to that really helped with loving and being kind to myself.In the beginning it would make me sob so much I couldn't listen to it,I think maybe it brought up old feelings of being unloved,unwanted,etc.but I kept at it and was finally able to finish and actually allow myself to have loving feelings towards myself.I use it now when I am feeling really down and negative about myself and the rest of the world.

Doing this meditation early mornings is a great way to start the day,it leaves me feeling positive and more loving towards everyone,including myself.

You can download it for free,along with other helpful meditations here:

Free Guided Meditations - UCLA Mindful Awareness Research Center - Los Angeles, CA