binding off with applied I-cord

[grammymoo]

I am ready to bind off my mobius scarf/shawl.
The pattern calls for using the applied I-cord to bind off.

The instructions are vague to me.
here they are (if someone out there can explain this to me line by line i would be grateful):

"cast on 3 sts at beg of row using cable cast on method and dpn."
( i know how to do the cable cast on, but will i have just 1 dpn?)

"knit these 3 sts;"...
(so will I be using my circulars and 1 dpn?)

"return 3 sts to LH needle by slipping as to purl"
( the LH needle will be my circular?)
(I know how to slip as to purl)

start bind off:

*K2, sl1 as to knit (lst I-cord st);
(I think this makes sense to me but the next segment
doesn't)
Sl 1 LIVE st as to knit from 1st dpn;
( I dont understand how to recognize a live st. what that is.)
(I dont understand referring to the 1st dpn. when did another one
come into use?)

k2togtbl.
(I know how to do this)

Return 3 sts to LH needle
(does this mean to just slip as to knit from RH needle to LH needle
and will that be using 2 dpns?)

thank you for your help

[Jan in CA]

If you still have the stitches on your needles you can just use your circular needles. Some people may prefer a separate needle, but you don't need one and it makes it easier.

There seems to be lots of ways of doing it which makes looking for a video confusing. Here's your instructions using your same two needles.

Cast on 3 onto left needle and knit them
Slip the 3 stitches back to the left needle as if to purl

K2, sl1 knitwise, sl1 stitch knitwise, k2tbl
Return 3 stitches to the left needle

Repeat last two rows to the end.

Once you get started you'll see it's easy.