1: Prepare your planet: I recommend your bitmaps to be at least 1024x1024 pixels large. I prefer 2048x2048 for better quality. At least, planets are cool! Nobody wants to see them blurry
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2: Cut off everything, but the planet. No black background or anything but planet. Background should be alpha.
3: No jpg and bmps! Why? No transparency, huge file sizes [bmp] or crappy quality [jpeg]... Instead, get familiar with some better file format like .dds or .png. I prefer the first one. GIMP has .dds plugin, but I personally recommend Paint.NET. Save your planets in DXT5 format of DDS file... Or png.
4: Place file of your planet in data/effects table.
5: Create table. Create file in notepad and name it "whatever-str" and change file extension to ".tbm". Name of the file doesn't matter as long as it has "-tbm" at the end.
6: Make table! Krevett62 already posted entry example, but instead of $BitmapX: use $Bitmap:. Your bitmap already have alpha channel so engine know what to do with it. If you use BitmapX, you may encounter stars on darkened side of your planet, as BitmapX makes black transparent.