please help me and give tips on how to make good looking text on a necklace shield...  

K, here you go.
http://blue3.deviantart.com/art/Anti...rial-213141706  

:0 thanks dude  

Thanks for that rep even though its blue, but still! At least you're appreciative. <3  

Here's another example which is similar to Tricxta's method.



It uses a gradient of blues, starting from light to dark, and it looks pretty good. (Probably one of the only times in which you can use gradients for shading.)

Step one. Draw out your text. Decide how thick and tall you want each letter, and stick with it for each one. (That may be hard for certain letters, so be as close as you can to the set limit). These shields work best for 3-5 letters, although I've seen some that have 10+.
Next, get your colour, with shades of whatever from light to dark. (Light at the top, although you can change if you wish.)

Step 2. Colour your pattern in. Each colour for a different line. Repeat the process until your text is fully coloured.

Step 3. Add a border (optional) so that you can see where your shield ends.

Step 4. Add some chains (again, optional). You can shade them pixel, by diagonal pixel, with the gradient you used in your text, if you wish.

You're done!

Feel free to take my shield and use it to help with your own.
(In case you forgot shields cost 2500 and public shields cannot be refunded!)