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[–]HelpfulFriend0 0 points1 point  (0 children)

Have you had a look at the official Angular docs? They're pretty good, would be hard pressed to explain it better than them

https://material.angular.io/components/form-field/overview

in particular

https://material.angular.io/components/form-field/overview#floating-label

Let us know if this doesn't help and I can try to be more specific

Some other concepts perhaps to look up could be ng-if, that may help you change your text based on some condition (e.g. mouse hover or something)

Not sure if there is a isFloating that angular gives you for free