How do I make floating words?

Source: http://www.minecraftforum.net/forums/minecraft-discussion/redstone-discussion-and/command-blocks/2209069-1-8-new-floating-text-technique-no-more-need-for

You can do this in Vanilla Minecraft and also modded Minecraft. This is the way to do it in Vanilla. You only need one command:

/summon ArmorStand ~ ~ ~ {Invulnerable:1b,NoGravity:1b,Invisible:1b,CustomNameVisible:1b,CustomName:<insert floating text>}

In this command, Invulnerable means you cannot kill it; NoGravity means it will not fall down or affected by gravity; Invisible is just making it invisible; and CustomNameVisible is the tag for the custom name to be shown. Add the words you want to be floating between CustomName: and } (or replace the words <insert floating text> with your desired words).

For example, the command to show the words "Arqade is bae" is:

/summon ArmorStand ~ ~ ~ {Invulnerable:1b,NoGravity:1b,Invisible:1b,CustomNameVisible:1b,CustomName:Arqade is bae}

Note: I currently do not have a computer next to me, so this part may not be 100% correct: You can also add other tags to customize the text even more:

...CustomName:{"text":"Arqade is bae","color":"dark_red","bold":"true"}}

Steps:

Result:

To delete the text, do

/kill @e[type=ArmorStand,r=<radius>]