I recently, through experience, reading, and counseling with a couple of good friends, discovered something pretty interesting:
Emotion (how you feel about a situation) and thought (what you think about a situation) only matter to the extent that you let them affect your actions. In other words, your feelings and your thoughts aren't an issue unless you make them one.
You can feel frightened of getting on a roller coaster, but if you still get on the roller coaster, did your fear matter? When you survive the ride fully intact, did all the thoughts of potential death and "Oh God I'm so scared!" that ran through your head matter? No.
The only reason fear could possibly matter is if you let it guide your actions more than you let your common sense guide them.
When you feel an emotion, you are not that emotion. You are the observer, watching the emotion take place, feeling its effects, and noticing how it feels. Then, from the place of observation, you can decide to act on the emotion, or not.
I can't say that I've transcended fear yet, but I am certainly closer than ever before.