Lucky bamboo is inaccurately described as a "bamboo" plant. Lucky bamboo is not even related to bamboo; in fact, it is a member of the Dracaena plant family, related to the dracaena marginata ("dragon tree") plant.
Lucky bamboo requires little care and is used in feng shui. Feng shui is the Chinese art of arranging items in a home to bring energy or balance to a space. Using lucky bamboo in feng shui requires certain arrangements and placements within the home. The arrangement must also represent each of the five elements: wood, earth, fire, metal and water.
Purchase lucky bamboo stalks in groups of odd numbers. In feng shui, even and odd numbers have significance. According to espritdeisle.com, odd numbers--and items grouped in odd numbers--are considered the most auspicious. The stalks of lucky bamboo represent the element of wood.
Find a glass or glazed container in which to place the stalks of lucky bamboo. The container needs to be as deep as half of the length of the stalks of lucky bamboo in order to properly support the stalks as they grow.
Place the lucky bamboo stalks in the container. Pour pebble gravel into the container around the stalks to help support it. The pebbles represent the earth element. Pour filtered water into the container; this represents the water element.
Thread a gold Chinese coin or other gold-tone charm onto the red ribbon. Tie the red ribbon around the stalks of lucky bamboo. The coin represents the metal element, and the red ribbon represents the fire element.
Place the lucky bamboo arrangement in an area of the home where chi (energy) does not flow. These are areas such as dark corners or oddly-placed walls. According to fengshuicrazy.com, the plant attracts chi. The plant also keeps chi flowing in areas where chi already exists.
Place the lucky bamboo arrangement near the bed or chair of someone who is ill or needs healing. Fengshuicrazy.com says that the chi-attracting properties of the lucky bamboo plant will bring healing energy to sick individuals.