I also thought I would add a little to the discussion, though I'm not actually free either, and so take it with a grain of salt. This is just from my own experience.
Shashank Dixit:
1. How do you get convinced that 'I' am 'my feelings' ?
I looked up "convinced" on google and this was definition two: "Firm in one's belief, esp. with regard to a particular cause or issue." In actualism practice, the point is not to become "firm in one's belief", and in that sense, to "get convinced" is particularly useless.
Rather, what may be useful is to investigate and uncover the facts or the actuality of the situation. So, how to discover that "I" am "my feelings"? By way of investigating, I've found it useful to explore "what am I?" What is this "I" that causes so much mischief? It seems fairly obvious that "I" am the cause of so much of the human troubles in my life and others, so it's worth inquiring to find out what "I" am. Upon investigation, I've found that it's possible to have the experiential understanding of what this statement means: "I" am "my feelings."
Shashank Dixit:
what if instead 'I' was only feeding on 'my feelings' ?
Well, why bother with "what if.." speculation. "I" am right here to be investigated, so there's no need to speculate. One can simply look for oneself.
Shashank Dixit:
2. Why is the second part ( 'my feelings' are 'me' ) required when in the first part ( 'I' am 'my feelings' ) we are saying the same thing ?
I see it like another path to the same discovery. One can inquire "what am "I"?... and discover... "Oh... "I" am a feeling being... "I" am defined by "my feelings"... oh... "I" am "my feelings." Oh.... "I" am affect.... oh, that's what "I" am...
Or, one can inquire... "what are "my feelings"?... what is affect? What are these emotions?... what are these instinctual passions? oh.... this is "me"...
Basically, if you can find in your own experience any of the following: "I" or "me" or identity, sense of self, the soul, etc... or if you can find: affect, emotion, feelings, instinctual passions, the attention wave, etc... then you can start your inquiry from that point... and from that point you can discover that it's all the same thing.
This point is made most clear when feelings stop and start, because one can notice the distinct stopping and starting of "me" that correlates with those feelings. Thus, I think the PCE can be useful, but in my experience, I don't think it's necessary for this investigation, as you can also take a simple feeling such as fear or desire and notice that "I" am the fear, and then when the fear stops "I" stop... though usually another feeling replaces that fear to maintain the sense of self as being seamless.
I'm not sure if that's helpful, but those are some of my thoughts from my practice so far.