The purpose of traction control is to stop the driving wheels spinning when you pull away using too much accelaration.
If you drive your car normaly you do not need traction control, but it is reccomended that you leave it switched on all the time.
If you are accelarating hard on a bend and the road is in any way slippery your front driving wheels will start to loose traction with the road and you could get massive understeer and go straight on instead of going round the bend, having the traction control switched on will help to control this happening by reducing engine power to the wheel or wheels that start to spin and slide.