I have thick hair too.. I end up just using hair clippers without a guard.. and being a little prickly.
My brother uses a straight Mach-3 without gel or water, after he shaves it down with clippers, and I have no idea how he does it. I'm scared to even try.
If you're bleeding, are you going against the direction the hair grows with the blade? That might cause it. Try only shaving downwards. It won't be as smooth, but it should prevent razer bumps/bleeding.
go with a single blade razor, pfb bumpfighter disposable works great , available at walmart, use aveeno shaving gel, be sure and shave with the hair and not against or you will get nasty ingrowns
waxing makes the shit worse when it grows back, Im getting mad ingrowns chest and legs now from past waxing, when the hairs grow back they cant find the damn hole!