It should look like this:
2.Merge down everything that there is 1 layer.You can also duplicate if you want and do the text mirror inverted like me.
3.Now drag the effect into your project.Adjust it to your project size.
4.Now do a right click on that effect an press create clipping mask.After that merge it down with your text.
5.Create a new layer and use the gradient Tool.
6.If you did that. Create a clipping mask again with the gradient- to the textlayer.
7.You will see "normal" above the layer.Press at that and play around with the options which you like best.
Finish!
Download link for effect: http://www10.pic-upload.de/21.01.13/79s88id388rj.jpg