Audio Note Kits recommends the following method for preparing their litz wire interconnect cable:
"The last step now is to tin the ends of the wire. Basically you need to apply some solder to the ends. This does two things. It makes the cable easier to work with when you are soldering to the RCA or the selector switch and it also burns away an invisible protective coating on the wire which can potentially cause a non connect!
The trick here is to apply some solder to the iron and then let the heat and solder work on the wire for about 5 seconds; it will seem like a long time. When you start to see some brown bubbling, or the solder take to the wire, then the invisible coating has burned off. Then try make a nice shiny tin - it does not need much solder and don't worry if the plastic melts a little. One end is now finished!"
A solder pot or something similar as originally posted would be a better solution for thicker wire such as speaker cable.
"The last step now is to tin the ends of the wire. Basically you need to apply some solder to the ends. This does two things. It makes the cable easier to work with when you are soldering to the RCA or the selector switch and it also burns away an invisible protective coating on the wire which can potentially cause a non connect!
The trick here is to apply some solder to the iron and then let the heat and solder work on the wire for about 5 seconds; it will seem like a long time. When you start to see some brown bubbling, or the solder take to the wire, then the invisible coating has burned off. Then try make a nice shiny tin - it does not need much solder and don't worry if the plastic melts a little. One end is now finished!"
A solder pot or something similar as originally posted would be a better solution for thicker wire such as speaker cable.