Wait, the op mentioned a "Hozan 205 lockring tool". I just had to google that and it's for a bottom bracket, nothing to do with cogs and lockrings.

I just grease EVERYTHING, and tighten until I can't tighten anymore, or until I'm tired of bashing my knuckles open from slips. Works every time. But more specifically, with a bottom bracket lockring, super tight is fine, super freaking tight isn't needed.

Of course, if it is a rear cog lockring, super freaking tight, definitely.