Welcome to the forum!

The MTH transformer will operate your trains just fine. The wattage information of transformers relates to how much power they can supply to the track.

There is a lever sticking out the top of the loco near the front. This is the 'E' unit reversing lever. Push the lever to the opposite side of the slot in the top of the loco. Cycle the power multiple times to the loco. It should cycle between Forward-Neutral-Reverse-and back to Neutral. If the loco does not cycle, more than likely the 'E' unit may need servicing. Take the loco apart and check that all wiring is intact and not frayed or broken.

Lubricating the loco is easy. Anything that turns in a bearing (wheels, motor armature) gets a drop of oil. Gears get a dab of grease. Labelle makes good lubricating products designed for model trains.
https://labelle-lubricants.com/model-train-lubes/


Larry