I wouldn’t recommend it.
Get some Quickclot.
http://www.amazon.com/Quikclot-Advanced-Clotting-Bleeding-Package/dp/B001BCNTHC
For larger wounds you can always use tampax.
I’m not being picky, but it is expensive, and it BURNS when applied. I don’t know why, but it REALLY hurts.
I already concede its a lifesaver.