1. Fill your background with black using the paint bucket tool. This helps you see the chrome better. You can always delete this layer or make it transparent.
2. Make a new layer and choose a font, preferably rounded, and write your text in white. Make sure your text is big. You can always resize it later.
3. Click your magic wand tool. Set the flood mode to global and set the tolerance to 0%.
4. Click anywhere on the black part of your image then press CTRL + I.
5. Go to Effects > Selection > Bevel Selection. Mess around with the settings. Depending on how big your text is you can keep it on 5 or set it to a higher number. I put this image on 10.
6. Duplicate the text layer.
7. Go to Adjustments > Invert Colors.
8. Double click your duplicated layer and set the blend mode to difference.
9. Merge the duplicated layer down. At this point you’ll want to clean up your image by using a plugin like AA’s Assistant.
10. Go to Adjustments > Curves and adjust the luminosity.
11. Go to Effects > Selection > Feather Selection. Adjust it to your liking.
This will be the end result!