This wonderful Palm/cactus needs full sun to light shade with warm temperatures.
Water sparingly and do not fertilize.
Do not water in the winter months when there is no foliage on this tree.
Repot the plant every 3 years if you are growing it in a pot, this is quite tricky given all the spines. The best way is to wrap several layers of old rags or towels around the trunk where it is to be handled; this will help prevent any harm to yourself and others.
This is a tender plant and it requires a medium and well drained soil preferring full sun, it is susceptible to and should be protected from aphids, just keep an eye on them once you get a infestation of them and remove them immediately.