Q:

Fade effect with timer?

How to set a timer for a fade effect? Say text1 will fade out in 5 seconds, then text2 will appear, then it will fade out after 5 seconds, then text3 will appear. I'm not knowledgeable in jQuery. 
Say I have 3 texts:
<div class= "text1>Text 1</div>
<div class= "text1>Text 2</div>
<div class= "text1>Text 3</div>

I have only this:
$(".text1").fadeOut(5000); //now that a timers.

A:

First of all, fix your invalid HTML and use different classes (ids would work, too, btw):
<div class="text1">Text 1</div>
<div class="text2">Text 2</div>
<div class="text3">Text 3</div>

Then use this JavaScript code:
function fade() {
    $('.text1').fadeIn().delay(5000).fadeOut();
    $('.text2').delay(5000).fadeIn().delay(5000).fadeOut();
    $('.text3').delay(10000).fadeIn().delay(5000).fadeOut(fade);
}
fade();

Demo: http://jsfiddle.net/ThiefMaster/hmRFB/1/

A:

You can simply nest the callbacks. The function fadeOut takes 2 parameters, nr1 is how long time the animation should be, parameter nr2 is the callback that execute when the animation has completed.
http://jsfiddle.net/HULvL/
$(".text1").fadeOut(5000,function (){
// Text1 is outfaded..
    $(".text2").fadeOut(5000,function (){
        $(".text1").fadeIn(5000,function (){
            // Do more stuff
        })
    })
});​

<div class= "text1">Text 1</div>
<div class= "text2">Text 2</div>
<div class= "text3">Text 3</div>​

