Yeah get Silver Chitin Hand Wraps first and leave some slots empty if necessary. That will help you out more than a bit of banded armor or whatever else.
Also be sure to get at least one decent weapon set.
https://wiki.project1999.com/Green_Jade_Broadsword and
https://wiki.project1999.com/Fist_of_Zek would be a pretty good (and cheap) combo.
Not sure if you are on Green or Blue though. These items are more expensive on Green.