The only effects of masturbating too much are potential irritation/chafing from handling yourself too roughly, and potential difficulty maintaining relationships and/or attending to responsibilities if masturbation becomes an addiction. Anything you've heard about masturbation stunting your growth, causing blindness, hair loss, hair growth, etc. is a myth.
Take the head of your dick in hand (if you have a foreskin than pull this back so it does not get in the way, remember you are pulling the penis NOT the skin). Then stretch it out directly in front of you, holding it for 10-15 seconds. You should be able to feel the stretch at the base of your penis. Repeat the action 4 or 5 times. After that, relax penile and massage the head to restore normal circulation now, take penile firmly in your hand and pull the penis to the right. Pull it to the right until you can feel a pressure on the left side of your penis.
Contrary to popular belief, your penis is not a muscle, nor does it contain a bone. It's better to think of it as a kind of sponge, which, when flaccid, is soft and malleable, but can quickly become engorged when filled with blood. Two large cylindrical chambers, the corpus cavernosum and the corpus spongiosum (see?), fill with blood during arousal, causing your penis to harden and grow in size.
Manual penile exercises can be done without the need of special equipment. However, if you add extenders or pumps to a workout routine, you can enhance your gains. For beginners, it’s recommended to do one of the beginner-friendly exercises first (like stretching or jelqing) for a few months before doing combination routines with equipment. This ensures the penis has been fully-conditioned for the additional load caused by extenders or pumps.
Stretching with weights. Weights or stretching exercises won't bulk up your penis -- it's not a muscle. But hanging weights off your flaccid penis may stretch it a bit, O'Leary says. The catch is that it requires a freakish degree of dedication. "You might have to wear a weight strapped to your penis eight hours a day for six months," says O'Leary. At the end of it, you could be lucky enough to gain about half an inch. Risks include tearing of the tissue, burst blood vessels, and other problems.