First thing what you need to do is to Download these images: Blender Machine and Fish

Open Blender Machine image (Ctrl+O) in your Photoshop . At next click Right button of the mouse on the "Background" layer. Choose Layer From Background and call it "Blender Machine".

In the next step open the Fish image and press (Ctrl+A -> Ctrl+C) . Now go to "Blender Machine" layer and press (Ctrl+V) .

Call this layer "Fish". This image will have a white space that you don't need. To remove this white space you have to take a Magic Wand Tool (Tolerance: 20 ) with clicking on it.

Press (Shift+Left click) to add selection and (Delete) to remove.

Tipp:
To remove a selection press (Ctrl+D).

If you have the feeling that the Fish will have still some white edges, try to change it. Press (Ctrl+Left Click) on the Thumbnail Layer of the "Fish" layer and go to Select -> Modify -> Contract ( 1-3 pixels ) . Remain with Magic Wand Tool and use Right Button of the mouse on the fish -> Select Inverse. To remove these white edges press (Delete) on your keyboard.

Create a Water.

To create a water go to "Blender Machine" layer and take Pen Tool . Now create the "Shape" layer.

Change Opacity to 0% to see the lines better. Right Click of the mouse on the Shape , take Make Selection and change Feather Radius: 0 pixels , Operation: New Selection and press ok

Go to "Blender Machine" layer now, press (Ctrl+C -> Ctrl+V) and you'll get a new layer. Call it "Water". If you want, delete the "Shape 1" layer, because you don't need it anymore.

Select the "Water" layer with pressing (Ctrl+Left Click) on the Thumbnail layer . Press (Ctrl+U) for Hue. Change only the Lightness to -10 .

You can change the point of view of the grip, because the grip doesn't look realistic now. To change the grip take Eraser Tool ( Opacity: 50% , Hardness: 90 ) and use it on the grip carefully.

Go to "Fish" layer and make it visible. Press (Ctrl+T) for free transform and cut it down a bit.

Right click of the mouse button . Go to Warp .

Now take Eraser Tool from the Panel Tools (left side of your screen) and erase these pieces carefully.

Change the Blend Mode of the "Fish" layer to Multiply . Duplicate this layer (Ctrl+J) and call it "Fish reflection". In the end change the Opacity to 20% of the "Fish reflection" layer.

Press (Ctrl+T) -> Right Click on it -> Warp and try to create a reflection of the fish.

Go to "Fish" layer and try to erase ( Opacity: 40% , Hardness: 80% ) the selected red points. Finally erase something in the middle of the fish, too. (Grip section)

Select the "Fish" layer and press (Ctrl+M) to change the curves . Do like this.

To create a reflection of the Fish on Water, go to "Water" layer and use Eraser Tool on the red places. Select it and use Brush Tool ( Colour: black , Opacity: 20% , Hardness: 80% ).

Take Blur Tool and use it on the Water surface. Add some reflection of the Fish with Brush Tool .

Finally use some Blur on the fish and play something with Hue and Contrast .

Done!

Thank you for reading my Tutorial. ;)