Third-Party Candidate [Help Me Understand...]

[Juscelino]

Can someone help me understand my confusion on a third-party candidate run? Specifically, many people keep stating that Ron Paul can win if he runs under a third party. Here's my confusion, and keep in mind that there is a lot that I do not understand about politics and have decided to start learning as much as I possibly can now. Why would it make a difference if he runs under a third-party if (let's assume) voters don't like him right now? My assumption is that he will get more attention from Libertarians and Conservatives if he does NOT run as a Republican. Correct? So that being said, why would those folks dislike him right now as a Republican, then all of a sudden love him under a third-party?

Is my logic somehow off? Please clarify...