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Can anyone tell me how to add a timer to an actor? I need step by step instructions.

Create an actor and call it "gun".

Create another actor and call it "bullet".

When the bullet is created set its xvelocity to 10.

When the gun is created add the action "create timer".
Make a new timer called "shoot". Set it for 500ms.

Now add a timer event to the gun. Select the "shoot" timer. Make the action "create actor". Create a "bullet".

The gun will now shoot bullets across the screen at 500ms intervals.

See the Timers tutorial:

Help -> Events and Actions -> Timers