Page 2 - Google page rank decreased

I don't believe on luck more, its totally depends on your efforts. Luck works when you give your best, when you bring 19 by yourself luck just add 1 to make it 20.

-Ishu

It's not possible to discover the reason for your PR drop without knowing the exact situation (ie: all your backlinks, all o/b links on the pages with your backlinks, all inbound links to the pages with your backlinks, etc etc... over the past 2/3 pr updates)!

Even if you have retained all of your previous backlinks and they haven't added any additional o/b links to the page(s) containing your links, nor lost any inbound links to those pages, your PR will reduce gradually as the web expands.
The only way to retain / increase your PR is to continually increase your backlinks.

The best thing is to:
1. Forget PR.
2. Achieve (and retain) your rankings/traffic for your target KW's by attracting/building relevant/targetted backlinks.
...Then concentrate on:
3. Increasing your backlinks (to improve traffic and to rank for new target KW's and/or longtail KW's).
4. Improving your conversion rate.
5. Improving your content (so that #3 takes care of itself).

Page rank doesn't depend on backlinks only,

Okay I got question here. Some of the people in other forums say that PR is not important. Why is that?

I do face the same problem recently with funmin.com a site which I took for promo. its PR dropped from 3 to 0. I could not trace out the reasons, even though well optimized with correct structure..