previous page / next page functionality

Hi, a dummy question:
I have set the number of posts displayed in a page to 5 from admin area. But if I have more than 5 posts in a day it doesn’t have any next page.. link at the bottom to show there are more posts than 5. Is there any setting I need to activate or what should I do to overcome this problem? (I don’t want to leave the posting unlimited as it will be a very ugly long page.
Thank s