An adaptive algorithm was applied to forecast daily stream flows in real time using rainfall data. A three-component tank model was selected to simulate the flows and its time-variant parameters were self-calibrated with updated data using a parameter optimization scheme, golden section search method. The resulting adaptive model, APTANK, was applied to six watersheds, ranging from 0.47 to 33.62 km$^2$ size and the simulated daily streamflows were compared with the measured. The simulation results were in good agreement with the field data. APTANK is found to be applied to real-time flow simulation purposes such as a tool for irrigation water resources management and operations. The model is particularly good to simulate streamflows on dry days as compared to wet days having runoff-induced precipitation.