Try starting with good typography, font choice etc. in black and white only.
Work to develop something that really works, then see what you can do effect-wise.
Start with posting your intent in a GD forum, they will really help you develop a logo, as opposed to just seeing what font/effect combo PS can do for you. They'll recommend type faces, color combos, tell you when you've gone completely down the wrong road...
Otherwise you're just polishing turds, or as they like to say in Washington, putting lipstick on pigs.