Start by typing your text using a bold rounded font.
Double click the layer to open layer style window. Apply settings as shown.
From layer menu select layer style>>create layers. Select and merge both the resulting layers. Ctrl+Click the layer thumbnail to get the selection. From select menu select modify>>contract. Contract the selection by a few pixels.
Press Ctrl+J to copy paste the selection in a new layer.
Ctrl+Click the layer thumbnail to get the selection. From select menu select modify>>contract. Contract the selection by a few pixels. Press Ctrl+J to copy paste the selection in a new layer.
Double click the layer to open layer style window. Apply settings as shown.
Select and merge all layers. Duplicate the layer. Press Ctrl+T. Right click and select Flip Vertical. Press Ctrl+T and scale down vertically. Select eraser tool with soft brush settings. Erase the lower half of this layer.
Reduce opacity to create subtle reflection.
