In this tutorial I will show you how to make an easy, but very nice looking text. In the end your text will look like the picture below:

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First, make a new image with a medium gray bg.

Take your text tool and write the text that you want to add the effect to, and make it a light gray color.

Now, duplicate your layer by clicking on the arrow on your layer palette and choosing "duplicate layer" or by using the layer dropdown menu at the top of your screen

Select your duplicated text and make it a dark gray color.

Duplicate the layer again, this time change the text color to a light gray, lighter than both of your other texts.

Select each text layer and drag it down below your original text layer so that your top layer is the medium gray color. To do this, select your layer on the layer pallet, and drag it down until it is below your original text layer.

 

Now lets zoom in, to zoom in press ctrl and +

Select your text layer that has to dark gray color. Move the text lightly to the right, and slightly down so that it looks like my text below.

Now move to your light text layer and move it slightly upward and slightly to the left so that it looks like the image below

Now just zoom out and you'll see that it should look like the image below :)