Well, I hate to sound like captain obvious here, but if you want to become a better fighter, do some sort of fight specific training.
For specific advice, in the most general sense of it all, you basically need a viable strategy for standing and punching, 1 or 2 solid takedowns, and the ability to minimize damage when somebody gets you onto the ground with you on bottom.
Stop hitting shit that will hurt your hands, its not doing any good and its going to cause problems, do you believe some BS chinese kung fu guy or modern medicine? Your hands are important and you should take care of them when training (wrist wraps, gloves, etc)
If you wrestled in high school, go back there and see if you can get in on the practices, alot to be learned there.
There are boxing gyms for either free or really cheap in almost every corner of the world, there is probably one close to you, if you are near anderson (not sure how close that is to Muncie) one of the best guys in the state is out of there, not sure if he still has a gym but theres definatly some tough kids outta that area every year at all the local shows.
Your best value bet is probably to go to a boxing gym which are either free or cheap, get to know the guys, and there is probably at least one guy who used to wrestle and trains in MMA that would be a good source of info.
At least ask what different gyms charge, I got a Judo guy in Indy who makes you pay $45 to join the US Judo Association for insurance, then its free for life.
At the very least, find some instructional videos on youtube.
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