"I don't know anyone who has explained how taxes work if you are trading in and out of LP's..."

I haven't checked to see if there are any special rules for PTP's, but I think the rules are the same as any other partnership...sale of less then your total position in a specific partnership subjects you to the rules governing a "partial liquidation" of a partnership interest. In short, you can't recognize a loss on the units you sell. The basis carries to your remaining units.