Step 1 - Text Base
Choose your own document size, and create it new. I am going to use 500x150. Type in some text using the Text Tool, but be sure the text is nice and thick, or else the outcome might be weak.
Step 2 - Text blending options
Right click the text layer in the layers window, and then hit "Blending Options." Check stroke, and drop shadow. Leave them both at default levels, except for the stroke, which you will want to change to white.
Step 3 - Selecting the Text
Next, you can have two ways of doing this. Grab the magic wand tool (hotkey:W,) and then, while holding down shift, click on every letter's inside area 1 by 1. Or you can hold down ctrl and click on the text layer's icon in the Layers window. Once you do that, the texts should look similar to the text below, and be selected (the animated outline represents the text being selected.)
Step 4 - Vivid Gradient Touch
Take out the gradient tool. Make sure the gradient is set to Foreground to Transparent in the top left area. Press "D" on your keyboard, and then "X" to change your foreground to white quickly. Then, using the gradient tool, click and drag around the text area until you get an effect like below (or one that you like.) Then you're text is complete!
Step 5 - Colour Changing
This is optional, but if you right click the text layer, and go to blending options, you can add a colour overlay to your text. I chose orange for my overlay, as it is the colours for the media section of my site.
End! Job well done! :)