The two has different meaning and what they stands for, Psychology is mostly for the act to no people and observed them but as for emotion it doesn't observe or even intend to no what is happening to you but instead you will just start feeling bad because of how something did not work according to your desire or expectation, so there meaning doesn't related, so actually in the trading were you are trying to do some thinking to know when to position your trading on the going direction is the psychology doing the study but when it goes right or wrong emotions will be right there, however emotions is not only when you lose but is also when did not because excitement is part of it.