How can I increase my speed and punching power?

Question

It really sucks because I currently don't have a heavy bag to work with but Im trying to get one soon. I shadow box with 2lb and 5lb dumbells switching the weights around every 2-3 minutes when im shadow boxing.

Answer 1

Heavy bag for punching power, and speed bag for reaction time.  Shadow boxing is good, but make sure you practice everything with perfection (proper footwork, stance, positioning, etc.)

I've never used dumbells for training with punching, so I can't really recommend TO use or NOT TO use them.

Constant repetition CAN really improve your speed dramatically, BUT, if you have no one to monitor you, or nothing to hit, it may hurt you (constantly performing your punches wrong will lead you to an improper style that'll only come to you as second nature).