1) Make a new file300x300.
2) Add a new layer. Then select the type tool and type your text.
3) Select the foreground and background colors.
4)Select the linear gradient tool.Holding down the shift key drag the tool from top to bottom.

1) Make a new file300x300. Select the foreground color as black. Fill the layer with black.
2) Add a new layer. Then select the type tool and type your text in black.
3) Click on the text layer and add outer glow effect.In the outer glow options palette. select gradient glow instead of a one color glow.Click once on the gradient bar to make a new gradient.(Fig 4)
4 ) We used the following settings.Location at 0 percent: white, . Location at 50 percent : Red. Location at 100 percent: black(Fig 5).Click ok.