'Magical' might be a bit confusing. I draw two kind of dragons: the physical and the magical ones. Physical dragons look more... realistig. They have big fins/wings and mostly don't look very spectacullar. This is because I try to make them 'believeable'. They need to have bodies that 'could' exist.
Magical dragons on the other hand are not believeable in any way.
This dragon, for example, has tiny fairy-like wings. No greature of this size could fly with such wings. But this dragon can, because it flies with magic =)
Sometimes I feel like drawing something nuts and impossible. So I draw magical dragons to escape from the few 'rules' I have to follow even by drawing something that doesn't exist.
Next to the actual look (with those teeth that look like the ones of a boar) I tryed out a bit more intense shading. You can see the shadow of the wings etc. And I tryed myself on a weird BG-design. =) I've often seen those in colored pencil drawings. And I thought they look pretty neat.