I always get it when I'm not expecting it- the board edge to the leg, the sander, etc.
As a professional "people-fixer", I'll offer unsolicited general bleeding thoughts:
Hold direct firm pressure and don't look for a while.
For perspective, we routinely hold pressure in the OR and set a time to keep the pressure held. I usually set a firm time so that the human tendency to look and check is thwarted. We even use pressure for oozing in the aorta, liver, vena cava, etc. It is hard to convey how effective direct pressure can be to stop even impressive bleeding. The rule of thumb is that if the bleeding runs out through the gauze (not just changing the color), change plans.
Extremities are a common place for injuries and ACE wraps can be very effective over gauze to stop oozing. Some of you are probably on aspirin, plavix, or warfarin and even minor cuts can keep oozing. ACE wraps can be very helpful. The wrap should be snug where you can just get about two fingers between layers. I use ACE wraps all of the time to stop bleeding in the legs and arms. (I even use it for massive facial bleeding around the head when the person is intubated and sedated). ACE wraps are a big help when doing minor extremity surgery in the office (or immediately postop in the hospital).
All of that is to say, the more the bleeding, the more pressure should be held. I keep gauze pads and ACE wraps at the house for life's minor hemorrhagic or edematous events. Sure, little trickles- clean it up, bacitracin, and slap a bandaid on. More than that, pressure is your friend.
I feel obliged: these are general thoughts based on my training and practice. When in doubt, go to Ed, call 911, consult your doc, etc, etc.