Reality is hard to beat, so you may have a hard time getting a result as convincing as a photograph.

One approach might be to apply the Layer Style Bevel and Emboss to multiple differently scaled Layers that used Add Noise to create transparency and are set to 0% Fill.

One of the biggest problems with making textures look real on something like a wall, is that most people ignore perspective, and the eye quickly picks up on it.  Check out this - fortunately free - Video2brain tutorial from the king of Photoshop for illustrative purposes, Steve Caplin.

http://www.video2brain.com/en/videos-2704.htm#/?video_id=2680

I used Add Noise on a gray Layer and used Blend if-settings to make parts transparent – but one could just add the Noise on the Layer Mask of a Solid Color Layer.

Converted it to a Smart Object, scaled it, set its Fill to 0% and applied the Style.

The Masked copy (the Layer Mask had Clouds applied and was then edited with Curves to increase the contrast) is the same size and position and serves to boost the effect in some parts, the topmost copy is another instance of the same Smart Object at another scale.

c.pfaffenbichler wrote:

 

I used Add Noise on a gray Layer and used Blend if-settings to make parts transparent – but one could just add the Noise on the Layer Mask of a Solid Color Layer.

Converted it to a Smart Object, scaled it, set its Fill to 0% and applied the Style.

The Masked copy (the Layer Mask had Clouds applied and was then edited with Curves to increase the contrast) is the same size and position and serves to boost the effect in some parts, the topmost copy is another instance of the same Smart Object at another scale.

Thank you for the added details - my version following your directions isn't as good as yours, but I could tweak it if I ever needed it for a real purpose (and it looks better than my real wall!)

There is no forum at          http://www.howtocheatinphotoshop.com/

That's odd. My page was cut off at the bottom. It seems to be a normal forum, though.