Dear Welcome to HCM We understand your concerns I went through your details. The clear liquid comes out of your penis while it is erected is called pre-ejaculatory fluid or preseminal fluid. This helps as a lubrication while doing masturbation or sexual intercourse. Several physiological mechanisms have been hypothesized to contribute to causing premature ejaculation including serotonin receptors, a genetic predisposition, elevated penile sensitivity, and nerve conduction atypicalities. You should consult a physician to ascertain the causes. If you require more of my help in this aspect, please use this URL. http://goo.gl/aYW2pR. Make sure that you include every minute details possible. Hope this answers your query. Available for further clarifications. Good luck.