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1.
Said by or to someone who has failed at something twice; used as a means for encouragement, expressing hope that things will work out on the third try.
Guy 1: Damn dude, I'm just trying to get phone numbers, but both of the girls I've hit on have thrown their drinks at me.
Guy 2: Well, third time's a charm, right? Now get back out there and leave me be.
by mikecws91 May 07, 2010
 
2.
When you are trying something (activity, task, function) and you are not successful during the first two attempts, you make this comment to assure people that you will get it right the third time you attempt it.
I know that I haven't fixed your car with the first two repair jobs I did on it, but 'the third time's a charm'.
by ZippythePinhead August 19, 2011