Approaching is definitely important however the term 'cold' brings about negative connotations when really it just means unknown.

You need to meet strangers full stop. That being said I do try and make a judgement call on how 'cold' it is by gaining eye contact or however else. I won't usually go up to the 'cold' ones, so in a sense you could say I don't use 'cold approach'.

Edit:

Ive not heard of the book but will give it a glance if I find a pdf.