Gus,
That is the one I talked about a few weeks ago.
The cables should have plugs on the end that can only fit one way onto the circuit card pins.
The white twin cable is for power, and I can't remember what the voltage required was, but that should be on the bit of paper that came with it or on the ebay page where you bought it from, It showed a small circuit diagram.
Anyway, all I did was to root through my junk boxes and I found a wall wart that gave the correct voltage, but they only cost a few bucks for one with selectable voltages. If you want a portable unit, then I am sure you could use a battery box giving the correct voltage output.
Connect the wall wart and cable together so that the polarity is correct going to the card and turn the wart on.
The display should then start up, and when you pass the magnet that was supplied in the kit across the front face of the sensor, it will start to show a reading, you might have to do it fairly quickly.
It is then a matter of either sticking the magnet on or embedding it into the rotating part, then mount the sensor close to where the magnet passes, job done.
John