Step 1
First of all the sample-text i used in this tutorial is dutch and it says "Shadow". I didn't feel like redoing all these pictures. The text is not important, you can use whatever you want.
Create a new document and type your own text. I created a document of 250x250 pixels and the font used is Times New Roman.
Step 2
Then copy the layer you just created. (Shortcut: drag the layer you want to copy on the "create new layer" button at the bottom of your layer view)
Step 3
Mirror this layer like this:
Step 4
Then you have to "rasterize" your layer. This means that you transform this text into a regular image. You can't edit the layer anymore.
Step 5
Then transform the layer with a "perspective transform". This is where you find this transformation:
Step 6
Click the corner at the right-bottom of the selection that appears and drag this to the right (a bit). If you apply the transformation by pressing the right ENTER key on your keyboard (the left ENTER doesn't work) you'll get something like this:
Step 7
Double click the layer you're editting to add a layer style. Choose a "gradient overlay" with these settings:
Step 8
Finally you'll set the transparence to a lower level to get a better result:
Step 9
This is the result:


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