I use a similar method. I dont have a pair of round nose so I clamp a drill bit in a vice and form the tail loop around the bit. I then use reg needlenose pliers to make the wraps. I can only go a half a turn before having to flip the plug on the drill bit but they come out pretty good.
the L helps hold it in the vice. a punch works too sears sells then with a square sides...you can change the sizes too..... I got my round nose or circle plyers at walmart for like 3.50 its in there sewing or crafts dept cheap but they work good
I'm not great at them, but I just bend to 45 degrees, grab with round nosed pliers at the bend, and wrap the wire around the pliers. Use the search and I think you'll find plenty on this.
cheap but they work good
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