PHP - Self Executing Form

self_exec.php

<?php
	if(isset($_POST['submit'])){
		echo $_POST['text'] . ' got submitted.';
	}else{
		?>
			<form action="self_exec.php">
				<fieldset>
					<input type="text" name="text" value="text" placeholder="Type here...">
					<input type="submit" name="submit" value="Submit">
				</fieldset>
			</form>
		<?php
	}
?>