Start by creating a new file. Fill it with a nice gradient.
Type "COOL" with a bold font.
Apply following layer styles to the text.
Duplicate this layer and remove the effects from the duplicate layer.
Apply filter>>sketch>>chrome.
Use settings as shown.
Change the layer mode to multiply.
Duplicate the layer and change the layer mode to saturation.

10 Random Photoshop Text Effects :
10 Random TutorialKit Materials:





More Photoshop: