Welcome to the Graphics Section BKB, I feel really happy right now because you actually started Photoshop and tried something in there.
Now there are many things you need to work on, I assume you're not going to leave graphics anytime soon and are going to stick with us. Therefore work on them as much as you can and make yourself a proffessional at GFX. I'm going to help you the most I can.... but it all depends upon your creativity at the end of the day so be sure to experiment with your own creativity everytime you open up Photoshop.
Backgrounds, learn how to do some good basic brushing and combining everything for a good looking background; Tutorials are always available for you and they are always going to be helpful:
http://impactwrestling.com/forum/showthread.php?t=26392
Text; I'm really happy that you've come up with good text from the start, this means you're going to come up with something better text next time... try to experiment with the blending options of the text, change the mode to Soft light and add a 1px-2px black stroke that would be decent looking.
Placement, you need to learn what to place and where to place it. Good GFX'rs will always plan out their ideas and then bring them to the table. First take five minutes out of your time and think what you can do with Photoshop, what you want to do with it and how you would do it. Plan out what you're going to do.
Next, browse through all the Tutorials in the HELP Section, Abdullah Al Hajri offers a basic tutorial along with one of my tutorials that I linked in this post.. all of this is going to help you.
As for this signature itself, you're off to a perfect start in my opinion and so continue doing graphics and work on every other aspect to perfection... 7/10 :thumbsup: