I can't add much to Philip's wealth of info, but just to say that you can get guidence from this link for how much fertiliser to use.
Fertilizer Mixing Calculators
You type in the N number from your fertiliser (5.3 in your case) and how many times you water/flush and it tells you the recommended mixing rate.
This is based on Ray's experience of 125ppm of Nitrogen being a good general concentration for most orchids.
Weaker fertiliser like yours can still be used, but generally you need to mix it stronger than you would a fertiliser with a higher Nitrogen number... that in turn makes it more expensive. It's generally more economic to use something like a 20-20-20 which might be more expensive in the first instance, but you use less each time making it work out cheaper overall.