Mine is potted. I have heard everything from dry to wet. I do let mine get almost dry between watering when they are growing, and mist the climbing part daily. During the hot part of the summer I suspect you will need to mist/water yours daily if not more often. Lots of good air movement and good diffused light (I think of the high end of the Catt spectrum). I don't hang mine, but I know people who do.
I agree with Carrie. I also grow my plant potted. I find this species likes strong light, such as that for cattleyas. If the plant grows actively, you can fertilize it every week.