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It has been said over the years that the horseshoe helps bring good mojo. The reason for it being shaped as a crescent is for the moon goddesses protecting us from the evil eye.

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In the story the monkey's paw, the paw symbolized greed and power. The horseshoe is meant for the opposite. But a monkey symbolizes good luck and good spirit. Also to bring out the youthful and cheerful side in you. Just like the horseshoe.

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When putting a horseshoe on a horse people put it on with 7 nails. For this reason the number 7 is also considered lucky.

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the horseshoe is said to to bring luck to people and to protect. When you hang up your horseshoe upside down the luck is dumped out which is why people hang it up they keep it right side up. People wear the horseshoe on jewelry for this same reason.

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A horseshoe is made of iron. Iron is said to ward off bad evil spirits. People hang it up in their house to keep these evils spirits away.