Christmas cactus is a tropical type plant, not quite as drought tolerant as its desert relatives and, in fact, may drop flower buds if the soil gets too dry. The plants will wilt when under drought stress. Water thoroughly when the top inch or so of soil feels dry to the touch. The length of time between waterings will vary with the air temperature, amount of light, rate of growth and relative humidity.
The plant does not particularly need to be fertilized while in bloom, but most gardeners enjoy the challenge of keeping the plant after the holidays for re-bloom the next year. While plants are actively growing, use a blooming houseplant-type fertilizer and follow the label directions for how much and how often to feed.
While the Christmas cactus can adapt to low light, more abundant blooms are produced on plants that have been exposed to more light intensity. Keep your plants in a sunny location indoors. Plants can be moved outdoors in summer, but keep them in a shady or semi-shady location. Leaves may start to turn a bit red if exposed to excessive light. Too much direct sunlight can actually burn the leaves or may cause them to become limp. When it's time to bring the plants back inside in the fall, slowly adjust the plants to life indoors by gradually increasing the number of hours they spend indoors each day.