Semi-Transparent Type Tutorial

Step 1: Open the image of your choice. Press T to get the type tool and enter your text.

Step 2: Put a selection around your text. Hide your type layer by clicking on the eye icon. Click on your image layer.

Step 3: Press Apple+J. Add a Drop Shadow,Inner Shadow, and Inner Glow effect using your layer styles.

Step 4 : Drag your original type layer into the trash.