This is cleft/wedge graft. I use a razer for utility knife - sterilized in alcohol. When you cut the top part to a point, make sure it is smooth & even. Also, on the edges of the V, take a tiny sliver off each end on both sides. Make sure the budstick is same size as the branch you choose - preferrably not too high up the tree.
Not TOO tight w/ the rubber band but give some stretch. Then wrap from bottom up with graft tape or even strip of plastic from a bread bag.
Hope this helps. Don't be discouraged if it doesn't take ...I grafted 2 diff sticks & only 1 took on my tree. 5 of 6 took on my paw paw trees.