Better still,
~Create a new .PSD file.
~Use the method suggested by Yogesh or Anup to type the text you want as watermark.
~Put whatever effects you may want on this by going to the blending options and playing with the various options (Layer > Layer Style > Blending Options).
~Save the file as a .psd file.
~Every time you want to use the watermark, open the psd file, hold the Ctrl key and drag the text to the image you want to put a watermark on.
~Press Ctrl + E to merge the layer with the image.
~Save the watermarked image.
View attachment 2788
View attachment 2789