Depends really on your age and circumstances.
Most teenage boys masturbate regularly with no harmful side effects. But it can lead to a secular lifestyle.
My advice help yourself when you feel the need, in private of course. But try and save it,two or three times a week, waiting can make the experience better.
Best advice would be to find yourself a girlfriend. Nothing beats the real thing.
And I guess the same goes for girls. Except find a boyfriend !!!
one significant effect could be the development of premature ejaculation.
one way to avoid it is to realize you can control it and make yourself last longer by practicing, which would seem to be no problem in your case.
for me its all about focusing on my breath, i breath and focus my breath right below my belly button, this is meditation breathing practice i applied to this it has been awesome. you can last as long as you want after practice and will be able to control and know when you will cum.
i havent used a condom for almost 2 years using this method by pulling out at the perfect time and have yet to have a pregnancy. i dont know if this is appropriate to recommend but if you can get it down go for it its awesome and condoms suck .