If you pull the joystick back, the arms raise. If you release the joystick it springs back to the center position.
If you push the joystick forward, the bucket lowers. If you release it, it again springs back to the center position.
If you push the joystick as far forward as it will go, it will go past an indent and stay there. It will not spring back. This is the float position.
When in the float position, there is no hydraulic pressure forcing the arms up or down, just gravity. This is the position that you operate a mower in. It allows the mower to float along with the ground, riding over small dips and bumps. This position is also useful for backdragging the bucket or a box scraper for final grading and such. It floats along and glides over things. You can use this position for the snow plow when going forward. The gauge wheels keep the blade from biting into the surface. However, it is very hard to use the bucket in float and going forward. This is true of most FELs on most tractors. The bucket will tend to dig in and the tractor will want to ride up on the loader arms, lifting the front wheels off of the ground. You can get around that by curling the bucket back until the leading edge just comes off of the surface. I've had little success with this technique, but on occasion use it, just to see if it will work /w3tcompact/icons/laugh.gif.
Hope this helps. Let us know if you find the float position on your machine.