I am regularly asked for recommendations on different tools, training, resources
As a result, I’ve put together a list of recommended trading resources that I’ve either personally used (in most cases) or which have come highly recommended to me by people I trust.
I will add to these lists as I come across new trading resources that I recommend.
Operating System (OS)
First is the first. You need an operating system for your research and production environments.
As far as trading is concerned, we have to select between Linux or Windows.
Linux has the power of the open source code and the so-called “Community”.
Windows is important when you have to use some kind of very extended trading software like Metatrader 4 or 5.
When it comes to choosing a Linux distribution (aka “Distro”), there are multiple options available. This can make it cumbersome when it comes to making a decision on which one to chose. However, two proven and true options I personally used are:
Whether you’re planning to set up a virtual private or dedicated server, the choice between CentOS and Ubuntu has probably arisen. Here, we will review some of the differences and similarities between both distributions of Linux and in the end, you should have a better idea of which one suits your needs for your trading activities.
CentOS is the free version of Red Hat Enterprise Linux (RHEL). RHEL is a commercial product that comes with paid support. On the other hand, CentOS is maintained by the community. CentOS is well known for being stable and secure and is commonly used in business-class environments. One reason for this is due to the fact that its release cycle is large enough (it occurs only every 2-3 years).
In addition, each version of CentOS is maintained for 7-10 years, which means you will not have to worry about a major update in the near future if you are using a recent version of CentOS.
Centos is my research environment of choice. Also in production is very robust.
The second option is Ubuntu. It is based on the Debian architecture and is frequently used in personal computers and server environments. Ubuntu is known for its short time release cycles and cutting-edge features. However, frequent updates and a variety of features can lead to instability in some cases and may require a greater amount of support to keep updated.
That said, it’s powerful and highly versatile.