Create A Fun, Easy Gel Text Effect With Layer Styles
Free Adobe Photoshop Text Effects Tutorials At Photoshop Essentials.com
Step 11: Apply The "Satin" Layer Style
One more layer style to apply, and it's the "Satin" style, so click directly on the word Satin in the Layer Style menu on the left of the Layer Style dialog box, directly below "Texture":

We're back to choosing a color once again, this time for the Satin effect, so click on the Satin color swatch:

Then click in the text to sample a darker shade of the text color. If the colors in your text turned strange when you clicked on the word "Satin" in the menu on the left, don't worry. Just click once anywhere on the text and the colors will revert back to the way they should be. Then click on any darker area to sample that color:

As soon as you click your mouse to sample a color, you'll see the Satin effect apply itself using that color. If you want, you can keep clicking around inside the text to choose a different color, and the Satin effect will be updated each time you click, so you can keep clicking until you find a dark shade you're happy with. It's basically a live preview of the effect.
Once you have your color selected, click OK in the Color Picker to exit out of it, then make the changes I've circled below:

In the case of the Satin effect, you're really going to want to experiment with these settings yourself, but for the sake of following along, first I changed the Angle to 75°. Then I increased the Distance to 43 pixels and the Size to 54 pixels. Finally, I clicked on the down-pointing arrow to the right of the Contour preview thumbnail and chose the Ring contour, which is the second one from the left, bottom row.
Here's my text after applying the Satin filter:

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