Stopping the Allen bolt from moving

When I asked the "EZ racers forums" what I should do about the Allen bolt backing out of the big wheel on the axle. I was told to use loctite on the bolt to keep it from backing out. This evening I backed the bolt out and put loctite (green) on it and screwed it back in very tight. The green has a 5 minute time delay before setting up so that comes in handy. I will let it cure overnight before riding the bike and I will give you a critique of its longevity.