I have a little hard plastic 5g bucket (one of those "impact resistant" ones) that's Lacey's feed bucket.
I used to stick it on the ground and let her eat like that but I started noticing that there was a direct correlation between the bucket being on the ground and her not finishing her meal. She's 28 and mostly blind so I figure that there's probably some kind of combination of neck arthritis and "losing" the bucket going on.
Now I still use that 5g bucket, but I set it inside a corner feeder in her stall so it's up high enough for her to comfortably eat out of and not "lose".
She spends most of her day grazing, head down, in the pasture so I'm not too concerned about her having her head up to eat those two small meals every day.
She also gets a hay net every night which is not my favorite, but otherwise she wastes soooo much hay. I do generally feed a flake on the ground and put the rest in the bag so she has a choice. Interestingly, she prefers bag-hay!