Proverbs 5:1 My son, attend unto my wisdom, and bow thine ear to my understanding:
Proverbs 5:2 That thou mayest regard discretion, and that thy lips may keep knowledge.
This starts the chapter, the verses following talk of a person in wrong company following the flow of the wicked.
Then states the verse you mention. Looking at this from the perspective of the son who has received correct instruction this is another way of saying: stay true to what you know to be right from your own knowledge and understanding. Flowing water refers to fresh revelation sometimes.
the next verse says to:
Proverbs 5:16 Let thy fountains be dispersed abroad, and rivers of waters in the streets.
Teach others the same wise instruction, not that of sinners.