For droping the shadow outside the text use "drop shadow", for placing the shadow inside the font use "inner shadow". If you create some cool effect that you want to keep, you can save it as layer style and use it later by click on it in layer styles pallete. Another tip if you have slower comp its not recomended to use to many effects because they eat memory like biscuits ;) On www.vecpix.com you can find some very cool tutorials :) Hope this will help you :)

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