Can anybody guide me in order to virtualize using open VZ for centos 5.6?,maybe I can install open VZ but I want to do it without paying a panel and that is for me the hard task- to virtualize using open vz without a panel
since I dont know how

???????????

You do not need a control panel to install OpenVZ, just follow the instructions here - http://wiki.centos.org/HowTos/Virtualization/OpenVZ

VPSs can be created and managed with a few simple commands.

You can use Hypervm panel, it's now free and open source. That will install everything you need.

You might want to look into Proxmox VE it does both OpenVZ and KVM and is a great free solution. http://proxmox.com/products/proxmox-ve

It is easy to use. It is based off debian but its comes with a web based control panel and if you are using KVM you can install almost any OS. If you are using openvz there are many templates...

don't forget http://www.virtualizor.com
supports openVZ, XEN ,KVM, & Windows(xen)

I have never used it. Is it any good?

It great software its a little new there a few issues with there implementation which is being corrected in the next version

software dudes they just do not think like a server admin or a end user
I and I'm sure others set the straight

Do you know how they use KVM? Do they use raw, qcow2 files or LVM? All of the above? Any idea? I think I am going to go ahead and install it see if it will do what we need. We currently are using proxmox that runs on debian. Most of us at PH are CentOS fans but we can use debian if needed. It seems like it might be a good fit since it will integrate with WHMCS. Probably should start a whole new thread to see what others say.

Thank you

cant comment on KVM using it on xen only

How many VPS node are you planning to install and manage?

If you're just hosting several VPS node, you wouldn't need control panel.

as pinellashosting said,
proxmox is also good stable and all, for visualization i really like proxmox and the forum of proxmox very helpful

use solusvm.. very user friendly...

Beleive me virtualizor is simply great it's cheap and they're even offering you a month free.

yep and if you want to pay ... I do it is worth it use solusvm.