1. First of all create a new document and make a background that will suit your text.
2. Change your foreground color to nice reddish color (#c71919) and it's best you use a very fat font.
Next thing apply the following layer styles:
You can download pattern here.
You should now have a result similar to mine:
3. Now we'll add some cool highlights.
First create a new layer, then select the text layer. (hold ctrl and click the layer thumbnail)
Now fill the selection with white (#ffffff) then move the selection up 2 pixels, press delete.
Move the layer up 2 pixels then change the layer mode to Overlay, lower the opacity to about 70%.
That's all for this tutorial. If you need to you can download the PSD file for this tutorial from here.
More Tutorials: 
