It is worth repeating:
Use a high-quality holster, mag pouch, and belt, Using a $15 cheap nylon holster with your $500 pistol is like driving a sports car on bargain basement tires. You can do it, but it is not optimal.
The holster, mag pouch, and belt is as much a part of your life insurance as the gun itself. It aids concealment, retention of the weapon, and facilitates a proper draw. Using cheap crap hinders all three.
Now as to "cocked and locked", the 1911 is designed to be carried that way. As long as you put the safety on, it is not going to fire until you take the safety off. If you have the "G.I." type, that grip safety give you a measure of insurance in the event of an accidental disengagement of the manual safety.
I have carried a "70 series" (near-GI) Colt for 19 years. I can remember twice finding that the safety was off in the holster. Both times were year early on, carrying in a cheap holster. Don't make that same penny-wise/pound-foolish choice.