The Iron (Wu Qu, 武曲) in the Self palace (Ming Gong, 命宫)

What the classic says, Zi Wei Dou Shu Quan Shu (紫微斗数全书), volume two

Firm and decisive, straight without malice; small in build, high-voiced, large in capacity. With the Power transformation (化权) in the seat of the self and benefics arriving, blessing and long life — spirited, and out of the common run. With the Great Drain (大耗) and malefics breaking in, however much money comes it ends as nothing. In a woman's chart with the Treasury (天府), high spirit; with the two Aides (左右) and the Hoard (禄存) gathered, wealth and honour both.

武曲金，北斗化财，为财帛主。武曲性刚果决，心直无毒，形小声高而量大，有毛发之异。武曲入男命吉凶诀：武曲守命化为权，吉曜来临福寿全，志气峥嵘多出众，超凡入圣向人前。武曲之星守命宫，吉星守照始荣昌，若加耗杀来冲破，任是财多毕竟空。武曲入女命吉凶诀：女人武曲命中逢，天府加之志气雄，左右禄存相逢聚，富贵双全美无穷。武曲入限吉凶诀：大小二限逢武曲，若还入庙主财兴，更加文昌临左右，福禄双全得称心。武曲临限化权星，最利求谋事有成，更遇吉星同会合，文人名显庶人兴。武曲之星主官非，公吏逢之刑杖来，常庶遇之还负债，官员值此有惊怀。

“Well placed” and “badly placed” refer to the star’s brightness in the branch the palace falls on: the same star in the same palace reads differently bright and dim, and the clause says how.

Source

How this placement actually turns up

• Well placed (exalted or strong) in 51% of those charts, badly placed (fallen) in 0%, in between the rest.
• Alone in the palace in 18%; sharing it with The Treasury (天府) 17%, The Disruptor (破军) 17%, The General (七杀) 17%, The Wolf (贪狼) 16%, The Minister (天相) 15%.
• Carries a birth-year transformation in 39%: Fortune (化禄) 9%, Power (化权) 10%, Merit (化科) 9%, Trouble (化忌) 10%.
• How often the conditions the classic’s line names actually occur — one of the four difficult stars (擎羊陀罗火星铃星) in the palace with it: 30%; Earth Void or Earth Robbery (地空地劫) with it: 15%; one of the six helper stars (左辅右弼文昌文曲天魁天钺) with it: 39%; Lu Cun (禄存) with it: 8%.

Counted by casting every day from 1950 to 2009 at each of the twelve hours — 262,980 charts, 8.3% of which have The Iron here (every main star sits in every palace in about one chart in twelve). A count, not a reading.