This tutorial is 5 steps and has a difficulty of Easy. This tutorial will show you from start to finish how to make some cool red text.

     1. First create a new document, I'm going to use a 200 x 60 pixel image ok. All colors in this tutorial are in hexadecimal (hex) value.

     2. Set your Foreground color to 5E5E5E and go to Edit > Fill, and select Foreground Color. Press Ok. Click the text tool (Looks like a T) and click somewhere on your document and type whatever you want. I used the font Mael, and typed Mael.

     3. Highlight the text you just typed and change the foreground color to FF0000, and now the text is red. Set the background color to 9A2021. You should have this
Step 3

     4. Here's where it gets interesting.
Go to Layer > Layer Style > Stroke. Use the below settings.
Stroke

     Go to Layer > Layer Style > Drop Shadow. Use the below settings.
Drop Shadow

     Go to Layer > Layer Style > Outer Glow. Use the below settings.
Outer Glow

     Go to Layer > Layer Style > Bevel and Emboss. Use the below settings.
Bevel and Emboss

     5. Now for the final step to make this even better.
Go to Layer > Layer Style> Gradient overlay. Use the below settings.
Step 5

     I came out with this
Finished