Using loop within custom template page

I am trying to use the following code in a custom template:

<?php if (have_posts()) : while (have_posts()) : the_post(); ?>

<div class="post" id="post-<?php the_ID(); ?>">
	<h2 class="storytitle">..:: <a href="<?php the_permalink() ?>" rel="bookmark"><?php the_title(); ?></a> ::..</h2>

	<div class="meta"><?php _e("Posted at "); ?><?php the_date() ?> @ <?php the_time() ?>
		<div class="storycontent">
			<?php the_content(__('(more...)')); ?>
		</div>
	</div>
</div>

<?php endwhile; else: ?>
<?php endif; ?>

However it does not show any posts when I browse to a page that uses this template. Using the same code in index.php works fine – it shows the posts.

I have tried searching for solutions and while I didn’t find anything, I seem to recall having to use a custom query to get it to work? Im not sure…