Matrix Text Effect

1) Go to File - New - Blank File. Match your settings to mine.

 

2) Go to Edit - Fill Layer. I am filling mine with black. 

 

3) Click on the 'horizontal type tool'. Type some text. You can see my settings below. 

 

4) Duplicate the text layer. Layer - Duplicate. 

5) On your duplicated layer go to Filter - Blur - Motion Blur. Set your settings similar to mine, or experiment with your own. 

 

6) You are done! See mine below. Matrix text can be used to sigs, avatars, and more.