I am a 17 year old male and I have been suffering from Male Pattern Baldness. Am I taking the wrong medicine? (photo)

Thank you for the question.
I think what you are doing is fine, however, if you add lasers (Luce) to this, you will get even better results with 0 side effects.
The Luce laser increases more blood flow to the follicle which in turn will make the thinning hair stronger and larger. 
I have a great before and after picture on Real Self of Luce.

I'm glad you've seen a dermatologist for accurate diagnosis and to get on track with an appropriate treatment plan. Minoxidil may cause shedding for the first 1-2 months and then that shedding stops. Minoxidil doesn't help all men, but does help a proportion of men.5 % minoxidil is clinically proven to be slightly more effective than 2 % so you may consider reviewing again with your dermatologist if 5 % might be an option in the future. 2 % minoxidil does help men, but 5 % is just a bit better.You might consider LLLT (low level laser therapy). It may offer some benefit, albeit clinical trials to date show not to the same extent as finasteride and minoxidil.

What you are taking is the correct medication and the shedding phase which occasionally shows up should be over by now.  Be patient and stick to the plan.William Rassman, M.D.