These are pretty useless if you're using bonsai soil. The wands sold at big box stores measure electrical activity between soil particles. The wands were meant to be used with potting soils, which have tiny soil particles. Bonsai soil is coarse, meant to drain fast. It has huge spaces between soil particles. That means the wands almost always read "needs water" or "needs ALOT OF WATER FAST" when the soil, in fact DOESN'T need water.
They're almost a guarantee to overwater your tree.
Learning to water is one of the most difficult, buy vital, practices in bonsai.
Over time, you learn what needs water simply by looking at the soil color (bonsai soil turns a lighter color when its dries) and local weather conditions (dry windy days require more water than rainy days. etc.)
I've learned to water by the weight of the pot and soil color over the years.
Using weight can be easier than a chopstick (but chopsticks can be good too-the secret is to push it into the middle of the soil)
Water monitoring by weight goes like this--Simply water your tree well, until water runs out of the drain holes. Pick the tree up right after it finishes draining--feel the weight? That's a fully-watered tree that DOESN'T need watering. At the end of the day, pick the tree up again. It will probably feel lighter. Do this repeatedly for a few weeks and you will get a feel for when a tree needs to be watered. I can tip a pot slightly up on one end now and can tell when it will need to be watered....Takes some time and patience.