Create a new text layer and write something using a font type that you like. I will use the Pacifico font type which is a calligraphic handwritten retro font type that you can download for free. Learn how to install font in Photoshop. Call this layer Glitter Text Outline.
Duplicate the Glitter Text Outline layer and call it Glitter Text. For the moment hide the Glitter Text and let's work with the Glitter Text Outline. First we'll add a Stroke layer style.
Convert the layer into a smart object and add these following layer styles:
The text effect should now have a silver metal style outline effect.
If you want to change the color you can add a hue/Saturation adjustment layer
For the final touches you can add some sparkle effects using sparkle brushes and other light effects. I also decided to add a optical flare effect. So add a lens flare and choose one of the lens flare types; I used Movie Prime.