Triple Outline Stroke
Add two quick and easy outlines to your text using photoshop layer styles. This preserves your text layer for easy text modification.

Start out with your text. Whatever your color scheme is shouldn't matter, but for this example I went with black on white.

Double click the text layer to open the layer styles menu and go to the stroke (or go to Layer>Layer Style>Stroke from the Menu bar).

The settings should ok almost from default, just change the color and the size to the thickness you want.

Now go to the Outer Glow style. We will modify this to add the second outline.

Set the blend mode to normal and the opacity to 100%. Set the color to your choosing. Set the spread to 95%-100% (a little less than 100% will smooth edges a little but depends on the size you use). Finally set your size to be the thickness you desire.

Now go to the Drop Shadow style. We will modify this to add the second outline.

Set the blend mode to Normal and the opacity to 100%. Set the color to your choosing. Set the distance to 0, the spread to 95%-100% (same as Outer Glow) and the size appropriately.

Note that the size of the Outer Glow, Drop Shadow and the Stroke are independent of each other. So if you want 5 px thickness for each outline, when you adjust the outer glow you'll need to add the stroke's thickness, and when you adjust the shadow you'll need to add the outer glow's thickness.