Don't kid yourself, this stuff isn't good for you. Its not as bad for you as it could be though, its a pretty balanced thing. I smoke about once a week at most, but people I know who smoke significantly more are fine.
Just smoke and see what your limits are: there is no shame in missing a few days to see if you feel better or worse. I always know that when I start really craving hookah, I should take a week or so off, but thats just me. Moderation is definitely the key, so figure out whatever is right for you and stick with.
Also, and this is really tricky: if its making you unhealthy, or you get cancer, stop smoking. Thats all there is to it, really