I am a middle-ranking child in my family and I have 1 younger brother and 1 older brother. I ever thought I was disadvantgeous, but now, I have changed my mind and I have discarded this myth at all. Everyone is a isolated being which can develop himself on the circumstance he lies in.

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There is a stereotype who says that the middle child has less attention but I can't tell because I'm the first child.

I guess all depend of your parents, the number of years between brothers and/or sisters, and their attitude. 

I think it could be nice somehow, you have a big brother/sister to teach you stuff and Little one to be the big brother/sister.

Middle ranking children are apt to be ignored or overlooked as far as I know.