I have mine in clay pots, and to water them, I take them to the sink about once every 4-6 weeks and submerge up to the rim in lukewarm water, then drain well. In between, I water about once every 7 days, depending upon weather, etc, with maybe a quarter cup. After you've had them a while, you learn to recognize their cycles by appearance -- when they're ready for water, the leaves droop ever so slightly and get a little dull looking. The day after a drink or a soak, they're all lush again.
Fertilize a couple of times a year with an orchid food or just regular liquid plant foot. Once a month is far too often, IMHO -- I think that manufacturers put those recommendations on the label based on plants in optimal conditions -- they don't care if its too much for a plant under household conditions, it encourages people to use more of their product -- "lather, rinse, repeat". If you don't want to use Miracle Grow type product, just use fish emulsion -- stinky but it works.
They like moderate light -- an east or west window is really good. They also do great under artificial lights.
Finally if its a Phalaenopsis, just be aware that, for the most part, they never seem to bloom in the summer months. Mine always throw blossom stalks in fall and winter, so I think they may be photoperiodic.
http://en.wikipedia.org/wiki/Phalaenopsis