Alone

This actually looks really good! I might want to point out that
the horse and the background colors/brightness doesn't mesh right. Try to use a texture over the horse itself that has the colors of the background in them, the dark greens and blacks.
Also when cutting out the foal, try to do it is you do a little more smoothly. I remember using the mouse and trying to get it just right. If you take it slow and easy though, you'll be able to get it. That and the more you practice the better you'll get.
I just read you use the lasso tool, try to see if you have magnetic lasso. It works very nicely and you can control it a little better.
Also to blend the foal in more try to set the opacity a tiny bit lower. Not too much because opacity seems to take the color out. If you ever get a higher version of Photoshop then always use the fill, not opacity.
Other then that maybe try to do experiment with the words. Many people will turn them to the side and make them almost invisible-like. ^^ Just play around and see what you can come up with.

Hope I've maybe helped a little bit