cycle item effect

This is a test wand, I want to simulate a cycle effect with it but it isn't working and i got no idea why/give @p stick[custom_name='[{"italic":false,"text":"wand -"},{"color":"gold","italic":false,"text":" spell 1"}]',consumable={consume_seconds:0.2,animation:"block",sound:"ui.toast.in",has_consume_particles:false,on_consume_effects:[{type:"minecraft:play_sound",sound:"ui.toast.out"}]},use_remainder={id:"minecraft:stick",count:1,components:{"minecraft:custom_name":'{"italic":false,"text":"new wand"}'}},use_cooldown={seconds:1}] 1