magician vs mind reader

magician and mind reader both are nouns.

Word	Noun	Adjective	Verb	Adverb
magician	Yes	No	No	No
mind reader	Yes	No	No	No

As nouns, mind reader is a hyponym of magician; that is, mind reader is a word with a more specific, narrower meaning than magician:

magician: someone who performs magic tricks to amuse an audience
mind reader: a magician who seems to discern the thoughts of another person (usually by clever signals from an accomplice)

Other hyponyms of magician include escape expert, escapologist, telepathist, thought-reader.

magician (noun)	mind reader (noun)
one who practices magic or sorcery	someone with the power of communicating thoughts directly
someone who performs magic tricks to amuse an audience	a magician who seems to discern the thoughts of another person (usually by clever signals from an accomplice)