Good Luck, Bad Luck or No Luck?

One troubling trend amongst people today is the belief in 'Luck'. If you ask 'What is Luck?' giving the impression you never heard of it before they are at a loss of words to explain what exactly 'Luck' is. They've never actually thought about it but just believed that it existed. First we must know what luck is before we can come to classify it, if it exists.