Step 1
First start of with a new document 500x500 pixels and select your text tool and put in any text you want, make it a fairly big size. Make the foreground of the text black.
Step 2
Now going to give it a chrome effect, on your layers palette hold CTRL and click text layer and the go to {Filter ?Sketch ?Chrome} and enter these settings:
Detail = 4
Smoothness = 7
You should have something that looks like this:
Step 3
While still selecting all of the text outline, go to {Select ? Modify ?Expand} and enter in 3. You will see that your text has enlareged its outline. Make a new layer call it {bg}, drag it below your text layer and fill it in with a grey colour #D0D0D0. You should have someting that looks like this:

Step 4
Now we are going to add a stroke to the background, in your layers palette, select {bg} layer and go to {Layer ?Layer Style ? Blending Options ?Stroke}. And make the colour black and size 1px.

Step 5
The final touch, adding the stroke to the text. On layers palette select your text, and go to {Layer ?Layer Style ?Blending Options ?Stroke}. And make the colour black and size 1px. Really you should have something that looks like this:

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