CO buildup and oxygen deprivation are serious concerns for closed shops.
An exhaust hood over the forge is preferred ( really a must). It should be big enough to self draft, or better, have a small draft fan. That will take care of most of the hot exhaust gasses, but you still need fresh air circulation. A small outside air fan in a wall, an open window , or some sort of fresh air source is a mandatory safety feature. The calculations can be done on paper, but for a normal size forge,running in a small shop, with an 8" vent hood, there should be about 3 Sq. Ft. of open air source.....roughly an open window. A 6" dryer vent with a draft fan drawing the air in will provide the same CFM as a still air open window.
Stacy