Setup

Node.js

https://nodejs.org/en/

Git

https://git-scm.com/download

MongoDB

https://www.mongodb.org/downloads#production

Note: For those on Ubuntu, MongoDB is easily available for 64 bit LTS editions.

IDE:

JetBrains WebStorm is recommended, as it covers everything, including spectacular VCS integration, along with real time code analysis tools.

However, it eats up a lot of RAM, so Atom.io is a lighter, free alternative, although it requires plugins to add additional functionality. If you wish, you may use Sublime Text as well.