I use newspaper strips, starting at the head and applying like a wrapper leaf. This applies the molding strip in the opposite direction of the binder and seems to apply a more consistent force to the bunch. If the binder and paper are applied in the same direction, when their edges align, it focuses too much force there and makes an uneven bunch.
If the cigar has parallel sides (is a parejo cylinder), the you could use a wide paper strip over the entire cigar length, the way toilet paper wraps around its cardboard tube. That would allow multiple passes over the whole cigar, and easily equalize the compression. Maybe even just twist the two ends when you're done. You might call it the party-popper mold. (Is it important to use newspaper with soy-based ink? Are colored comics toxic? Will the headlines transfer onto a light colored binder leaf?)
But...I'm not a newspaperologist or even a moldologist.
I use a single sheet of Georgia Pacific standard multipurpose 20 weight 92 bright letter size paper turned diagonally so that I'm wrapping from point to point the long way, and leave them for at least an hour. Look at my sticks, they speak for the results.
A mold would be faster, make a better rounded head, and be more consistent for all one size.