1. We will start off this tutorial by creating a new image. We do not need a huge canvas as this is only a text effect tutorial. A 400x200 pixel canvas (default 72 resolution) with a white background will do.
2. Now, select the color of the text you would like to create using the color picker. We have chosen a green-yellow color (#7DE034) for our text. Then, click the type tool. Follow up by clicking on the canvas to begin typing your text. Size doesn't matter.

3. After you are done, create a new layer. With this layer created, we can now grab the selection of the text from the previous layer by clicking on the original layer while holding down CTRL. Your text should have the dashed lines around it, indicating it has been selected in the new layer. Now, at the top menu click Edit -> Fill. A Fill window will pop-up. Under contents, select 50% Gray, and hit OK.

4. With the text still selected, switch to the Channels palette and create a new channel. Fill the selection with white. Now at the top menu, go to Filter -> Blur -> Gaussian Blur and enter 14. This is what you should have:

Now does this again but change the radius to 7, again at radius 4, and once more to 2. Deselect (CTRL+D) and switch back to the Layers palette.
5. Now, hold the CTRL button and click on Layer 1. Then, hit Filter -> Render -> Lighting Effects. Match your settings to the ones below.

6. The text should now be along it's way to looking like plastic. But there is a couple more adjustments to make. You will need to blur the layer to get rid of the jagged edges. To do this, go to Filter -> Blur -> Gaussion Blur and enter radius 2.
7. You're almost done, one more change. The text needs a curves adjustment. Go to Image -> Adjust -> Curves. Try to match up with the following curves setting below:

8. You can remove the bottom text layer to keep a silver plastic look to the text or you can keep it and modify the layer effect to receive several different plastic effects. We went with the Luminousity layer effect on the text. The end result was:




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