Clean the block fence vigorously with a stiff-bristled brush to remove any debris or loose particles from the surface of the block fence. Put on a pair of protective gloves before mixing the plaster preparation.
Mix the desired color of Portland cement with sand and masonry cement in a wheelbarrow. Mix equal amounts of masonry cement and Portland cement together and add sand to the mixture. Use a ratio of four parts sand to one part combined cement mixture.
Spray the block fence with water until the wall is just damp. Apply the initial coat of plaster with a trowel until the plaster is 3/8 inch thick. The initial coat should be somewhat rough -- this will help the final coat to adhere to the fence. Allow the initial coat to dry completely.
Trowel the final coat of plaster over the initial coat. The final coat should be ¼ inch thick. Use short, choppy, overlapping strokes to apply the final coat. The final coat should be applied with random strokes in order to create a uniform effect overall.
Observe your work from a distance in order to judge whether the right degree of surface texture is being achieved. Surface texture is a matter of personal preference, but textures can look very different from up close and from far away.