It is a perfectly normal phenomenon to masturbate or wank. The way for the process of masturbation depends on person to person. While some people hold the penis in their hand up and down and some others use the technique described by you above. Actually there is not an exact way of masturbation. So there is no right and no wrong on the ways of masturbation. Do it according to what the individual likes. The process of masturbation is a completely harmless and a natural process it does not matter how often you do it. It is good to masturbate as little or s many times you like. Through masturbation you will get good feelings and you can have a nice orgasm. It will also help to make you know your body too. Masturbation will not cause any physical or any mental harm to the people. So there is not a problem of feeling worried, scared or feeling guilty on doing masturbation. If your doubts are not cleared you can visit your nearest doctor and he can easily clarify your doubts. Take care.