As an establishing chapter the ideas behind it are solid. He loses his family, finds a mystical suit of armour and runs away, probably swearing vengeange, or that he will never be so helpless again. It establishes the character, gives him clear motivation, and also has the potential for character development later, if he were to return to his village. It does raise some questions, like why this magic armour was buried under a simple peasant shack, but that would be the sort of question to keep people reading that you could answer later in a dramatic reveal that in fact his father had been a mystical knight, or there used to be an order who planted the armour in hopes of finding a champion, or just a single old wizard who placed it there knowing only a hero could wear it and save everyone, a la King Arthur.
Your writing needs lots of work though, most specifically in learning how to show and not tell, and in how to pace properly. The events follow one after the other without a single moment to stop and take in what's happening. You need those moments for the audience to breath because otherwise there is no chance for developing characters, and it doesn't matter how exciting your story is because without characters it won't hold people's attention.
This chapter is far too short, barely even a chapter at all, and combined with a very short prologue it makes me wonder if maybe you should combine the two and start the story from Chapter One when he is already an adult. There are very few authors who use such short chapters, and it's for a good reason. Probably the only one I know is James Patterson, but he has a writing style not best suited to fantasy novels (actually he has a writing style not best suited to anything other than James Patterson novels but that's a separate issue). Fantasy readers expect a certain level of description and verbiage and appropriate setting and pacing. You reveal nothing about his village, or his appearance, or how many people are in his family. These are details we need to know, because otherwise he has no character, he is just a plot device to keep the armour moving. A good chapter is about 2000-3000 words long. Exceptions can be made for action-heavy chapters, where it's a good idea to keep all the action together so the reader doesn't get fatigued. Your chapter is only just past 500, nearly a sixth of a full chapter. Prologues can get away with being 1000 (another reason to combine them) but you really need to consider whether you have enough ideas and enough discipline to keep yourself to writing 3000 words a chapter.
Also, the ideal novel should be anywhere between 80,000-100,000 words long, with fantasy noels often reaching to 150,000-200,000. It takes discipline, it takes an incredible amount of planning, and it takes a lot of time and effort. For my own fantasy series, I have so far written the first book totalling 114,000 words, which took me over two years, half of the second book totalling 60,000 words so far, with a probable end around 130,000, and I don't anticipate finishing it until next summer. This is only the second book out of a four book series. The series when completed will be in the region of half a million words long, and my notes ont he series exceed 250,000 words. Writing a novel, especially a fantasy novel, is a massive undertaking.
There are questions I know you won't have answered, which you may not even use in your book, but which you need to know, just in case it comes up. What are the major religions? Are they pantheistic or monotheistic? Are there great religious wars? Who are the Gods, what are their names? What are the cities called, who lives there? Are there monarchs, an elected body of people, where do the villages fit in? Do they have Knight Lords or are they ruled by their own people? You have to know every single detail of every single part of your kingdom, including all names of places and the name of the realm itself. Your plan for the chapters should be several pages alone, let alone the additional notes.
