I use that method to install/remove cogs. But, I use true fixed gear hubs so I have a lockring, reverse threaded to put on. For that, (I will probably get flamed for this) I use a flat screwdriver and a hammer. No excessive force, I just get it on very tight. I've done this on 3 cogs so far and not had one strip or come loose on me. I wouldn't run without a lockring though, that's just not safe in any way.