[Frodo In Bree]

My thought on this is that you would not be immune to either effects of the trap. As the discarding of cards is generally about the removal of cards from the hand and not about cards in play (affiliation, race, class, or items on the table in front of the player) the reality gem would not protect you for either of the effects of the trap you describe.

If the trap told you to discard two cards from your hand and lose a level, then you would be immune to the WHOLE trap as it doesn't specify immunity to the bad stuff or individual effects, but rather immune to the trap itself.