This is a great guide for someone who has never tried margin trading. You have emphasized the risks, which are huge comparing to normal trading, with the dreaded margin call being on the top of them. The main benefit is primarily the increased buying potential, as you pointed out.

I would just add one point: you are already taking huge risks by even engaging in margin trading. Minimize the risk by always trading a portion of your entire portfolio. I know some people are striving to get huge gains and get them fast. As a result, they trade their entire account with huge leverages. Better to be safe than sorry. Therefore, decide to trade a portion of your account with smaller leverages, so if you get liquidated, at least the majority of your funds are still there, and your get to have many additional tries/trades.