What I'm going to show you now, is how to add really smooth edges to your text without using the traditional select->modify->smooth... method.
This method simply looks alot better and is much more flexible.
Start by opening a new document, 320px wide and 92px high with a white background is what I used.
The first thing we're going to do is to find our channels window. If it's hidden, you can open it by going to "window->channels"
Create a new channel by clicking this button:
And use your Horizontal Type Tool (Hotkey: T) to draw some text like this in your new channel:
Here's the settings I used:
While you're still working inside your new channel, add some Gaussian Blur by going to Filter->Blur->Gaussian Blur...
And use a 3px radius.
Now, let's adjust the levels to remove the blur again.
Go to Image->Adjustments->Levels... (or simply hit CTRL + L)
and find some settings that look good. Like these:
Click OK, and your channel is done.
Click the "Load Channel As Selection" as shown on the following picture:
And now your text should look something like this:
While the text still is selected create a new layer in the layer window and fill the selection with black by first hitting the D-button to set the color selection back to default, then hit ALT + BACKSPACE.
Pretty smooth compared to the select->modify->smooth... method ay?
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