In the past (but still relevant today), the image of supernatural power that you wish you had. This dream symbol frequently appears when one is feeling worthless. Today, it refers more to the dreamer himself and his magical qualities.
A magician represents the integrated whole and the individuality of the dreamer— that’s the reason why the magician in the Tarot was assigned the number One. This integration and uniqueness is what makes him magical.
The message here might be that the dreamer ought to concentrate on his “magical powers” and know that they contribute to success on his life path. But no personal magic will make itself known unless the dreamer chooses to pursue his own path.
If he doesn’t do that, everything will seem jinxed. He will not get ahead and a multitude of obstacles will get in his way. On the other hand, this dream symbol may also point out that too much emphasis is being put on the individual at the expense of the collective. See Witch.... Little Giant Encyclopedia