this means that it adds the value at the right on every frame.
As for your code you coud use transform.up, to move the cube in localSpace. I have added different values for moveSpeed and rotateSpeed, so you can have them separated…
public float moveSpeed = 5f;
public float rotateSpeed = 20f;
void Update ()
{
if (Input.GetKey(KeyCode.LeftArrow))
{
transform.Rotate ( Vector3.forward * rotateSpeed * Time.deltaTime);
}
if (Input.GetKey(KeyCode.RightArrow))
{
transform.Rotate (Vector3.back * rotateSpeed * Time.deltaTime);
}
if (Input.GetKey(KeyCode.UpArrow))
{
transform.position += transform.up * moveSpeed * Time.deltaTime;
}
if (Input.GetKey(KeyCode.DownArrow))
{
transform.position += -transform.up * moveSpeed * Time.deltaTime;
}
}