Quickdraw is a trick that makes Link draw his sword or items without doing his animations to take them out. Quickdraw can be performed in 2 different ways.
Crouch infront of anything you can interact to by pressing A, press the sword/stick/great fairy sword button and quickly press A after. If done correctly, press the item you quickdrew should appear in Link's hand without doing the animation to take it out.
You quickdraw by jumping into a body of water and just before hitting the water press any item you want to quickdraw and get hit immediately after hitting the water, swim out and after pressing the button you quickdrew it should appear in Link's hand without doing the animation to take it out.
This method is a pretty easy method and works at almost any place with a ledge. Simply store a mask and hold Shield. While rolling off the ledge, release R, quickly press the item you want to quickdraw at the right time and unequip the mask you stored.
Action Swap is done by doing the same as quickdraw but 1 thing will differ, you need to have an item in hand already. After doing this correctly, interesting effects happen, such as storing a ground jump and to be able to perform the Ocarina Items glitch.
There is a limit of 3 explosives that can be loaded at a time. Explosions (even from an external actor/object) also count toward this limit, but they do not obey the limit themselves. So if you begin to pull a new explosive just before a 3rd explosion appears, it will cancel the draw and you will quick draw the chu. Combine this with an action swap from a charged hookshot to chu, and you can store a ground jump (or from having a bottle with content on hand it can let you Ocarina Items as well) Interestingly, chus produce an explosion before they unload completely, meaning you can can reach the limit with only 2 chus (or a bomb and a chu). Bombs actually seem to turn into the explosions they produce, so 2 bombs will not fill the limit when they explode like chus do.
Make a Tatl Alarm using the notebook in the Start menu, when Tatl's D-Pad pops up:
Have the bow/hookshot in hand, backflip or jump into low water where you can quickly get out of, before hitting the water press the bomb/chu button. Link should still have the bow/hookshot after getting out of the water so then hold L + Bow/Hookshot button, keep holding both buttons and press the bomb/chu button and a bomb should appear below Link and his bow/hookshot disappeared from his hands.
This method works anywhere with a ledge to jump off of. Hold the hookshot/bow in hand and store a Mask while backflipping. Roll and let go of shield right before you jump. Quickly press the button for the bomb after the jump and unequip the stored mask. Hold L + Hookshot/Bow and press the bomb button while holding the previous buttons. Backflip or sidehop to release the jump.
When you perform Action Swap from a bow/hookshot to a stick, Link will charge a fire arrow with the stick. Note that it isn't an actual fire arrow, but instead an arrow charged with fire from a torch. This action swap can be perform in the same way you perform a ground jump, using Tatl's D-Pad text action swap (Crouching and using Tatl also works).
This becomes useful because you can skip getting fire arrows in Snowhead Temple to fight Goht. And in the Any% Route of this game, using the Wrong Warp to Goht you can skip entirely getting Goron Lullaby and skip the entire dungeon altogether.