In all countries of the world, there is a common belief of horseshoe brings good luck. In fact, this belief is due to Christian communities. According to a legend, there was a blacksmith Dunston living in England in the middle ages. One of these days, the devil disguised and came to Dunston's shop. Smith recognized the devil and shackled it to the wall with a clever plan. Dunston nailed the horseshoes to the devil's foot with anguish blows. And then he said to the devil to keep away from the people's houses who believe in God. Devil asked; well how I will know these people? Dunston showed the horseshoe that in the hand of him and said that; you will not enter the houses which, this horseshoe has existed. The devil agreed to do this and so ever since the protective power of horseshoe has been believed.
The horseshoe is considered very lucky and used to be hung in many homes to protect and attract good fortune for the family residing inside. As with many superstitions, there are contradictions to be found with the beliefs associated with the horseshoe. For instance, many believe that to hang it with the ends pointing upwards is good luck as it acts as a storage container of sorts for any good luck that happens to be floating by, whereas to hang it with the ends pointing down, is bad luck as all the good luck will fall out.
Others believe that no matter which way you hang the horseshoe, good luck will come. According to this superstition, the ends-pointing-down display simply means that good luck is able to flow out and surround the home. If the horseshoe is hung over a doorway, ends up will catch good luck and ends down will let the good luck spill over the door and stop evil from entering. Perhaps a combination of the two was used so that after a few days when the horseshoe was filled with good luck, it would then need to be emptied so that residents could benefit from that luck and the process would be repeated until the end of time.