To be in good luck is all the rage during New Year seasons, but even after that, a lot of people still do things that will get them 'lucky.' People buy trinkets and statuetes, put them all around their homes in hopes that they well appease chance to be on their side. Homes interiors are rearranged, colors are analyzed, horoscopes are carefully followed, and all for what? For luck.
By definition, luck is what happens to a person because of chance, or the accidental way things happen without being planned. It is said to be a force that brings good fortune. A lot of people make a practice of this especially in Asian nations. China is even known to have Feng Shui.
Favor, on the other hand, is having God on one's side. Favor does not leave anything to chance, rather, it's a special gift that God bestows on His children. For a Christian, nothing happens by chance. Rather, things happen according to God's will.
In Psalm 139:16, these words prove the point that I'm trying to make; speaking to God, the writer says, "You saw me before I was born. Every day of my life was recorded in your book. Every moment was laid out before a single day had passed." If every single moment was already planned, then chance has no involvement in the good things that happen to a person. That leaves luck invoking practices to be of no effect since it is God who decides anyway.
God's favor can be won by living righteously. It does not involve carrying anything around, not a necklace or a charm, and no furniture changes have to be made. Luck, as I understand it, come from doing things externally. God's favor comes from a person internal life. It is through love, and faithfulness to the Lord, and God rewards us in return.
Good fortune has only one source: GOD.
