There are two types of cheaters fixed and free sliding. The free sliding is cliped to the main line and it seeks its own level. When a fish hits you see the rod shake and if it pops the release the rod goes slack for a minute. The slider goes down to the swivel on the mainlines lure . And you fight the fish knowing that you can'r reel up that length of slider line. The bow of the main line determines where the slider is fishing.
The fixed slider works the same way except its cliped to the mainline . Say 5', 10' , or whatever above the release at the ball. I use the small black offshore release for that. There are libitators and rubberbands that can be used insted.
I use a dulock snap ,6" of 50# line . Run it through the hole in the offshore release then tie a bead swivel . When I want to fix a slider, I clip one end to the bead swivel. Then using the clip I put on the release to the main line than clamp the release to the main line. It holds it in place till a fish hits , or it pops off at the rod tip and slids down to the mainline lure on a retreve.