Your End Result Will Look like this >        

1) Click New in th FILE menu and creat a new Photoshop document with values as shown in the image below (Ctr+N).

2) Using Paint bucket tool paint the layer with With Black Color. (#000000)

3) Create another Transparent layer over this layer. (Ctrl+Shift+N)

4) With the New Transparent layer selected use Elliptical Marquee tool and draw a button as shown below.

5) Now using Paint Bucket Tool fill color inside the ellipse you just created. Color i used : #F8FB02
Now your image will look somewhat like this:

6) Now coming to the blending options. Left click the ellipse Layer in the Layer Window and click Blending Options.

Inner Shadow : In Blend Mode use follwing color code : #309837

Inner Glow   : In Blend Mode use the color code #004741 for Glow.

Bevel & Emboss: For HighLight Mode use White Color ( #FFFFFF) and for Shadow Mode use Black (#000000)

Contour :      

Satin    : Set Blend Mode (Overlay) to color #60FF6B

Color Overlay : Color Code used > #8AFF00 and Blend Mode ( Normal ).

Now you are ready with your cool glassy and smooth Button. Save it in the format you prefer.

Result : 

For any Text with same Effects :

After Step 2) Select the Text Tool (Hit “T” for activating or directly select it from tool Box Window).
Add what Ever text you feel like with the font of your own choice. Use same Blending options as                discussed above or directly copy the Layer Style incase you made the button first from the ellipse layer.

Result :