Here's a pic of some actual track punches next to the type you've got. The heads are round and are flatter (though slightly domed) so the force is applied straight on to the end of the pin. Between the angle of the hit and the material it's made of it seems much less prone to bending. The holder keeps your fingers out of the way while walloping.
If you've got some of the hard material left I'd make one like this.
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