Bodybuilders and various athletes who use steroids aren't endocrinologists, so they don't generally understand the consequences of what they're taking. I think many skip the first step: eating an anabolic diet. Instead the strategy most often used is to eat like a garbage truck, and that increases estrogen levels by itself. When it comes time to take steroids which often can convert to estrogen, these people who are already in a stressed state make it more likely that their bodies will turn the slightest excess of anabolic steroids into estrogen. If you're doing it right, you'll be fairly lean before the steroid supplementation, and the steroids will take the last bit of fat and water retention off to expose the 6 pack and such, but instead what is often seen in recreational usage are people who look like they took bloat pills.
There are some steroids that cannot convert to estrogen and some which are so generally useful and safe that they can be compared to vitamins. There is always a concern that various hormone axes and feedback loops will be disrupted upon administration of exogenous hormones, but there aren't just negative feedback loops. There are positive ones too, so some hormones can be taken to reinforce an effect the body is already trying to do.
Some hormones exist upstream to others, meaning they are a precursor used as material to synthesize something else. The further upstream a supplemented hormone is the more opportunity the body is given to use that hormone as it sees fit which may be surprisingly intelligent and effective and also the more steps that must be taken before it can be converted to a stress hormone. Pregnenolone is an example of a steroid which is several steps preceding testosterone. Cholesterol is the precursor to pregnenolone. What is a shame to see is that many athletes are not trying to maximize cholesterol production or alternatively supplementing cholesterol itself. Both can be done. A diet high in fructose (such as a high fruit diet) will promote cholesterol synthesis, and some cholesterol supplements are derived from sheep's wool. Once the body is given cholesterol, it's important that it be put to use, and thyroid hormones stimulate the use of cholesterol to make steroids (steroidogenesis) and bile acids. Probably the most general purpose "stack" would be T3 + cholesterol, or T3 + ad libitum fruit, and that could probably be used for both men and women, as women would presumably make more progesterone from the cholesterol and men more androgens. The advantage here is the potential for a wide variety of hormones to be made by the gonads and adrenals as they see fit, and T3 has antiestrogenic effects to give some protection.
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