How I Deal with Downswings 

If you enjoyed this and want to improve your mindset at the tables, you’d like my free ebook, Poker Mindset Strategy. Get your copy here: www.philgalfond.com/mindset-yt

I just wanna listen to two Phil galfonds have a long thought out conversation

Hey Phil, you have always been my poker idol back since 2013. Thought you had one of the greatest poker minds in the game. I was fortunate enough to finally play in the $25k plo event with you a few years back and you gladly took a pic w me. Little did you know, you were the reason I was able to expand my game to play in that caliber of tournament with you. Thank you for everything and look forward to the content!

6:12 is the most important advice here imo. I've had ups and downs both in poker and crypto, very large ones, and it's imperative that you mentally reset and accept where you are TODAY. You have to tell yourself, this is how it is now, it doesn't matter how things were before i played that big losing session. I'm at the stakes I'm at now, my goals have to change and I have to re-adjust to my current position, not where I thought I would be. So, so critical for your mental health. And the cool thing is, once you just accept things as they are now, the human mind can actually adapt very quickly and you'll start to feel a whole lot better very fast. But you must let go of what once was and no longer is.

Phil Galfond!-Your Perspectives On Overcoming Downswings-Has Helped Me-Too!&I've Won!@Poker!-14 Times/Total!@Limit&No-Limit Texas Holdem-'The Cadillac Of Poker!'&I'm Always-Learning&This Poker VLOG-Definately Helps Me!-To Do Better-Next Time!-Raymond "Mike" Hong!&(Good Luck!-Phil Galfond&Everybody!-Mike!)😎👍!!!!!!!!!

Super happy to see this channel Phil!

Good luck with this journey Phil! Looking forward to it.

I like the quality of the content and the calm that you present your ideas. I'm looking forward for this channel

Phil you are the absolute best. Thank you for this video and thank you for all future videos in advance. I have been a fan for a long time, and the way you speak and explain things resonates so well with me. Even when I already know a lot about a topic or point you are making, the way you articulate it makes the lesson that much more understood and impactful on my life.

Great content, very useful. Not many professionals talk about the mental game. Thank you!

Hi Phil! I appreciate your thoughtful approach to this topic and poker in general. Although I am not currently in a downswing, much of your advice in this video is useful and I’ll search out this clip when things are tough.

Big and tremendous valuable words Phil ! thanks , full support from spanish community!

Great content Phil! I'm really looking forward to hearing your perspectives on whatever topics you find compelling. In this video, I like the very practical and clear way you approached the subject. I especially appreciated the tie-in with Bayesian Inference. I'm a big believer in the power of Bayesian thinking in many areas of life, and it's very applicable here. Cheers!

Excited to see you on RU-vid Phil!! Congrats to the launch of the channel and good job with your first video.

It's always great to hear you speak, Phil. You've always been a great representation of the poker community.

Great start and very much looking forward to a lot more mental game topics, especially also in future interviews with other Pro's!

I've been running really bad lately for last 10 days or so, so was great to stumble across this. Thanks Phil :D

Great video. Thank you very much! I hope to see more content from you. It would be interesting to see more videos about the strategy of playing PLO and about optimizing the grinding process.

this is some unexpectedly fan-goddamn-tastic content! WOW! Exceptional approach, relatable demeanor, sincerity leaking from every sentence. Thank you, and very happy to have found you

That last tip about keeping everything in life in perspective is great. Thx Phil

That so for this video Phil. I look forward to hearing more.

Hi Phil, loved the take on both an emotional level and data level. When winning or losing impacts your emotional state outside of poker you know you’re playing in stakes you shouldn’t. It is good to hear and realize when that is the case. Thanks for the wisdom.

So good to have you here. Stopped playing poker in 2010, but just thinking about giving poker another chance :-)

I love the advice in regard to resetting goals, cause that's often hard for me where you made a goal and now that goal a lot harder to reach to the point where that goal becomes demotivating.

I've been on quite the downswing lately and it's really messed with my confidence and/or ability to be on top of my game. Thanks for sharing this wealth of knowledge as I will definitely apply some of the tactics discussed. Run good.

I love the idea of studying to improve confidence. I've noticed I'm a lot more emotionally robust against bad beats when I'm freshly studied.

Great video Phil. Good points and topics you bring up. And keep making a topic overview with time stamps in the description!!

The best poker advice available on the internet. Thanks Phil 👍

Looking forward for more. You are a very good presenter of information, It feels very genuine, and therefore feels very believable. In downswings, I feel that the hardest, and the most important part, is that "reset" in your mindset (accepting the current situation, and forgetting the old one, as you said).

Great video. You can tell you have been through the ups and downs through the empathy you show in your insight and advice provided. Taking a step back and regaining the proper perspective on your life as a whole is a huge tip. Lossing for a while without engaging other parts of your life is one way ticket to brokesville.

Very informative. A couple of years ago, I found myself on a long downswing. At that point I took a critical look at what I was doing. Realized that I was falling behind. I feel I'm a better player than I was two years ago. But also definitely have a lot left to learn. Thanks for some more things to think about.

Very happy to have found your channel, wasn't sure you had an official one! Been watching a lot of your videos on poker strategy and podcasts with joey; keep making videos! :)

Thank you Phil, Sincerely appreciate the way you have explained this personally, mathematically & how we can ans should do create a balance and come back strong. Thank you once again and appreciate your content that you have been creating for the Fraternity.

Yes! Thanks for doing this Phil! We love and respect you! I´m excited and looking forward for many more videos to come.

I have been following many poker players these past decade and you are among the best! Your professionalism both on and off the table sets the standards for the rest of us. "When we have great teachers then students will follow!" Thank you!

unique style - great stuff on how to live through and what targets to have after a downswing

Love you Phil, this is awesome stuff and I'm looking forward to more.

I watched you back in 2015 analyzing hands you played online. Your thought process made me realize how bad I actually was back then at poker. Listening to you now speak about downswings makes re realize that it happens to the very best. I just climbed out of a downswing and won everything I lost in a month in 3 sessions to be in the black. I questioned myself, my play, why I am even doing this to myself. You hit spot on the goals adjustment. Thats exactly what I did. Thanks for a great video. I enjoy the sound of your voice and refuse to listen to…I won’t even say his name. Thanks again!!!

Love it. After two bad downswing makes me feel uplifted by listening to you. Just that when we go to downswing it's easier to go too hard on ourselves rather than accepting that variance is a part of poker.

Hey Phil, while some are welcoming you to RU-vid, I'd been fortunate enough to have come across your content on the DonkPlays channel! Would love some content like the poker philosophy videos. Looking forward to some gems from you ❤️

Thanks for the content. As an early subscriber I feel like I got in on the ground floor of a good stock being offered before the masses can get it. I like the analogy of how you stated Poker can feel like your whole world when in the moment when in reality we have to put it in its perspective and have other factors in life that's important as well so as to 1 doesn't dominate our thoughts. Last, my opinion, I know your a humble guy but feel free to plug your business, it's your channel and your giving us content for free, you can easily charge for this knowledge so if your steering us to greater research and it goes thru one of your businesses, plug it.

two moderate downswings in the last years in nlh. Only 17 buyins. Currently in a stay 0 swing for seven months. Is less harsh but still frustrating :) The goal adjusting advice is really a good one!!

It's pretty rare that a "talking head video" on poker is compelling, but this is one of those rarities. Looking forward to seeing more of this :)

I think all points are right on. Really valuable insight from a high level player on downswings. I basically quit 10 years ago because I didn't know how to deal with it. Videos like this would def help anyone in a similar situation now.

Very excited for this channel! You're a legend Phil.

I have been such a fan of watching you play poker since the start and the way you teach others is really helpful coming from someone like you over the years you're always so genuine and respectful its a joy watching you play and learning new things along the way you can really connect with what you're saying i'm really glad you made a channel and can't wait for what you have in store to talk to us next about really great job

Really excited to keep up with your channel, Phil. You're a great ambassador for the game and that shows through in a lot of the lessons learned in your career explained here

I’m in! I sub and will keep supporting in the future. I have been a fan ever sense I heard you moved to Mexico 🇲🇽. Cant wait for future videos.

Hey Phil really nice video looking forward to hear alot more mental game content. perfect time for me this video

This video definitely made my day, just came out at the right time, thanks Phil for share this awesome thoughts and looking forward for more content like this.

You are like pokers Mr rogers, watched the videos in reverse order but really enjoying listening to you talk poker and experiences while im out walking taking a break from playing + study

Thanks for this Phil. Great content. Former elite member that got out of poker full time. Appreciate all you do for the community!

Great video, awesome to see you starting a channel! Love you Phil

Keep doing this great work, congratz!

Great video Phil. One point that I think is worth bringing up is that running the EV/variance calculator can also be helpful in seeing how much more variance there is than the person realized. You mentioned that if someone finds out that the situation they are in is a 25% probable scenario given their assumptions that they shouldn't be too concerned. However, this means they should be concerned but for a different reason than what they were originally checking for. They shouldn't be too concerned that their original assumptions are wrong yet (25% probabilities will happen frequently). But they should be very concerned that they feel like they are on a huge downswing in a simulation where they are only at their 25% threshold of how bad things can get. Sometimes finding out you are in the 25% category is more frightening than the 5% category because it means that you could be running way worse and likely it means that you are over-betting relative to the Kelly Criterion. Over betting Kelly leads to added variance as well decreased long term profits (specifically because it causes you to move down in stakes too frequently). And if you are over betting Kelly by 2x, your risk of ruin goes to 100% in the long run (despite only putting on +EV bets). One other point that not many people talk about is the reverse side of this equation. All of this logic that you described can be used with upswings as well and can be useful for determining when to be moving up in stakes. People use this frequently on the downswing, but it is rare that people use it when they are winning. Not having the methodology on the upside leads some players to move up in stakes entirely too quickly, and makes other players stay at lower stakes for too long.

Awesome man!! Glad to see you joining the ranks with us in poker youtube!!

Thank you for this video. It was very informative and professional. Today I had one of the worst sessions in my life, and after I saw that you just posted this video. What a coincidence :)

The thing is with Poker, I see it as a hobby am I'm thankful for that. For those who play as their job, that must be brutal. Reason being, I see poker as a coin flip with "up/down" swings. In other words, most of the time you don't control your fate in big all ins when he has KK and you AA. Most of the time, the River will decide your fate. That is why having a nice paying job is guaranteed money that I will always get. I play poker on the side and more for the enjoyment and thought process of beating my opponents, not to live off my winnings. If I win , cool! If I lose, learn from it. This is my mentality.

hit one of my toughest downer this month so far ,and this was really really helpfull to me. Great work Phil

Can’t think of a better poker channel. Ty

Your videos are very much appreciated

Thank you for the content. Keep it coming

I am a Swedish player. In Sweden we have a lot of forest and a walk for itself is extremely healing, psychologically, mentally and physically. I highly recommend it, especially during bad poker times. Good content and already looking forward to more videos.

Thank you very much for the video. I see you from Colombia.

Great 1st video. Would be awesome if you also released these as podcasts as well.

Thanks so much for this Phil! You've put together some common and some uniquely personal ways of dealing with downswings in such a cool way here. I recently jumped up and am shot-taking bigger than I ever have before in poker, and it has been an abrupt and brutal downswing. I really needed to hear some of this from somewhere outside my own head, because I wasn't getting through to myself. Looking forward to more content, keep it up!

Muy bueno phil. Gracias por compartir tu conocimiento. Muchas gracias!!

Love it, keep them coming!

Congrats for doing this!! It's great!

Welcome Phil - looking forward to all videos.

This was great, thank you!!

Phil, please do some hand analysis from your PLO challenges and convey your thought processes. I hope to see your PLO contents!

Hey Phil! Love that you're on RU-vid, have been a fan for a long long time. Would love to see you mix in some lifestyle stuff alongside business and Poker content. Love ya man!

Great video Phil, I hope you will keep posting more videos regularly!

Great Video Phil. A question regarding the amount of weight people put in EV calculations. As far as I can see it's just one of the components of "luck" in poker, it doesn't take into consideration coolers; and I think more importantly finding yourself bluffing against a disproportionate amount of hands that can call. The EV calculator will say you weren't lucky or unlucky, will say you had 0 % equity hence deserve to lose 100%. I think it affects players more than getting coolered or running bad in in close equity spots; as it makes them gun shy regarding bluffing and even less balanced. Most players are already under-bluffing to begin with ( I include myself in the group of players that under-bluff).

Hope to see more Phil good luck on growing the channel and poker

Learning about The gamblers ruin fallacy really helped me here

Well well well if it ain't the guy that taught me PLO! Great to see you here man

Had to jump over to watch this video, I've been on a downswing playing 1NL that is driving me nuts. Just flopped top set Aces over bottom set 4s and he wins with runner runner flush. I know it happens but whens it going to stop. I did place 3rd in tourney on Christmas Day for $3548 which corrected the downswing plus a good chunk but when is it going to stop. LOL. Now that I've vented I'll watch video. Great stuff by the way. You should promote Run it Once, never know about it.

Reading your Twitter thread, and since we're on the topic of Churchill quotes, here's another one - "Perfection is the enemy of progress". So that's it, f perfection, your wisdom and heart with the right dose of effort can travel the world and back and help and inspire us all. Grateful for this gem and excited for whatever is coming. Thank You Phil !

hope to see your video everyday before I jump onto the session!

Really appreciate this.

Love to see you making content.

Love it! Interesting enough for playing PLO 5-cards in Poker Stars for 6 years and about 2.5M hands I'm a 6bb winner but playing 1 year (350K hands) in GG Poker I'm -1bb! I don't know, the players in GG Poker look way weaker, but somehow manage to win again and again.

So pleased the legend himself has his own RU-vid channel can’t wait to enjoy the content

Great video, looking forward to more. You've come a long way since I sweated you as Atlas on UB

It's awesome you started your own channel!

human like everyone else, idk about that man. You are a beast!

After 1:30 seconds, I have had to pause to add this comment, which I very rarely do. It is as if you are vocalising my recent experiences. These experiences are after many years of playing poker (30+) and a recent attempt to go full time. I am still working on the bankroll issues, but you are absolutely 100% correct with the emotional and mental aspects and the illusions that drift into and out of the mind, whilst trying to remember that you can play poker profitably.

You are already my you tube channel bible, and I’m a proud atheist ! You’re the one poker player who never disappoints my judgment !

Great content Phil! Im curious what your ultimate goal for the channel is? Mr. Beat recently did an interview and said that changing up your visuals during your videos really help with retention. Might be something to consider.

i needed to hear this! thanks phil!

Congratulations sir.

Searched up Phil Galfond looking for the old DonkPlays videos and find A WHOLE NEW CHANNEL?! Awesome.

Cole South brought me here. Thanks Phil.

Hey Phil, watching this video was very enjoyable! Includes plenty of good advice! Keep it coming. Especially when people like you, it can be hard to come by good feedback. Also, given that there are likely no grave mistakes, it may take a while for people to spot things that they don't like. I feel slightly stupid writing this but if I had to criticize one thing it would be the flickering screen on your refill station. Apart from that, I love the entire scene!

Thank you Phil:)

Love it!

Do you realise how tough it is to have 500+ likes and 0 dislikes? Very gangster Phil, props

Phil.... you're the best