This is what the end result will look when your finished with this tutorial

Kwel isn't it ?
Ok let's start the tutorial
1) Open up a new document i used 400by400 pixels way to big but you can crop it when your finished
2) Second take your type tool and use a nice big font i used
Book Antiqua 60 pt and this dark blue colour
#0E598C 3) Now create a new layer and
CONTROL + CLICK your text layer this will select

4) Now goto
Select - Modify - Expand 
5) And use this settings

You can change the amount of pixels but the end result will look different.
6) Next fill your selection by using the
paintbucket tool use the same dark blue colour
#0E598C 7) Now control click your text layer again and goto Layer one and press
Delete this will cut out the text and it will look like a fake stroke now.. (disable view of the text layer to see this )

8) Ok your still workin in layer one and use these settings for
bevel and emboss 
The contour is set to basic setting so just enable it.
9) And used this settings for
stroke to get an even better result

10) Now select your text layer and use this
gradient overlay settings
And now your all done ( don't forget to enable view for the text layer again if you haven't done that already )