New document based on existing open document in Ps and pse

To create new document or image in Photoshop and Photoshop Elements click File > New (> Blank File in pse) or Ctrl + N keyboard shortcut. To match the width, height, resolution, color mode, and bit depth of the new image to that of any open image, click triangle on the right side of Preset and choose a filename from the bottom section of the Preset menu.
new_document_based_on_existing
Go to File > New then choose open document name from Preset drop-down list

Reference:
Photoshop / Creating, opening, and importing images

Product used in this tutorial: Adobe Photoshop CS5 Extended

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