I love tread locking compounds. I don't use red on anything that I cant heat up or use lots of torque on to remove. Heat softens most of these compounds. Using a locking compound a bit too strong for a smaller size fastener, I'll only "glue" the retaining head seat, or top few threads of the screw/bolt only. A dot of paint or compound around an already seated head and its mated surface, works fairly well also.
Im also a fan of lock washers on everything. It applies more to large automotive fasteners. Americans normally use the split style, and the wave washer used in Europe is the best by far. Especially on bolt heads with flat sides for wrenches. It is similar to a spring washer, but normally a different slightly softer alloy than spring steel. Split washers..well they separate at the split, widening and failing leaving loose fasteners. Thinner, harder, wave washers are complete circles and seldom fail. My dune buggy insists on them and/or thread-lock. Don't get me started on star washers, or the other crud, unless its a beveled-countersunk head, Id prefer a plain, slightly bent, washer over them 90% of the time. Foreign auto supply shops are where I find my wave washers.