While the instructions are basically correct, befoe masking, plan ahead. You don't want to paint white over orange fins. You don't want to paint silver over an orange base color.
I would recommend an overall gloss white coat before other colors.
Mask off all three fins and the upper body (right at the top edge of the tunnels) before painting the body orange.
Then paint the body orange.
Mask off the two white fins and body tube. Paint the remaining fin black.
Mask off the area below the upper tunnels ends. Paint the upper body tube silver.
Using that lug placement, plan which two fins will be white and the third black.
Here's my build, with the white undercoats applied.
I've marked the fins for white and black paint.
Note the position of of the launch lug.