A traveler controls the angle of the mainsail to the wind. In light air you can keep good sail shape while drawing the boom higher. In heavier winds you can drop the traveler to keep good shape with less heeling.
There are more important things you can do to make the boat go faster. Smooth bottom, decent sails. Having the right sails up, good sail trim, steer a straight course with minimal rudder action, etc.
After that you might want to tweak the sail some more with a traveler.
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