I have a plant that is very similar. It is a cross between lindleyi x jenkinsii.
I grow it wet and warm between late April and November. Yours is in sphagnum and plastic, I think watering twice a week should be ok, but make sure it is growing. To be safe I would transfer it to clay, then you can water more freely. Mine is in clay and in the summer I water it almost every day.
In order to flower it must go through a dry and cool rest from late November to March. No water! If you must may be once a month to prevent shriveling of the bulbs, and cool temps down to 50F. Here in So. California I grow this out doors year round, and it can withstand temp down to 45F but the medium is usually bone dry when it is that cold.
Then by May, spike will appear.
This is mine last May, I am awaiting it to flower again this may.
Good luck
Andrew