An easy transformation of the equation is . Your parabola has a vertex at the left and parabola opens toward the right. The vertex is (1/2,0).
Comparing to a more generally derived equation, you could have for p being distance from vertex to focus, so here, you have . You will expect the focus to be to the right of the vertex, for your example, and so the focus point is (2,0).
(Latus Rectum is related to where the y values are in relation to the focus.)
(What are the y values for x=2 ?)