Recent posts showing up on page 2,3,4,5 etc

Simply put,Its a custom template

My index page shows up fine. When i click “Next Page” the same stuff shows up that shows on the first page, the url changes to page/2/ etc its just the most recent entries still show up on every page ie, page/2/ page/3/ page/4/ etc

Not sure what to change or add, had a look around seen some people got it resolved, but i guess everyones code will be different.

Anyone help me out as to what to edit?

<?php
get_header();
?>

<table id="main">
<tr>
<td class="content">

<ul id="recententries">
     <li class="entrieshead"><b>Latest Sony PS3 & PSP Gaming Posts</b></li>
     <?php
query_posts('showposts=10');
$alt = '';
while (have_posts()) : the_post();
?>
     <li<?php if ($alt=='') { $alt = 'alt'; }
     else { echo ' class="'.$alt.'"'; $alt = ''; } ?> >
<a href="<?php the_permalink() ?>" title="<?php the_title(); ?>"><?php the_title(); ?> </a></li>
     <?php endwhile; ?>
</ul>

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

<div class="post">
	<h2 class="storytitle"><a href="<?php the_permalink() ?>" rel="bookmark"><?php the_title(); ?></a></h2>
	<div class="meta">Posted <?php the_time('F jS, Y H:i') ?>  by <?php the_author() ?>
</br>
<div class="metacat"> Posted in <?php the_category(', ') ?>
</div>

	</div>

	<div class="storycontent">

<?php the_content("Continue reading <i>" . get_the_title('', '', false)); ?></i>

			</div>

	<div class="feedback">

<div align="right">

<?php edit_post_link('Edit', '', ' | '); ?>  <?php comments_popup_link('No Comments', '1 Comment', '% Comments'); ?>

&nbsp; | &nbsp; 

<a href="<?php the_permalink() ?>">Permalink</a>

&nbsp; | &nbsp; 

<?php if(function_exists('wp_email')) { email_link(); } ?> 

</div>

</br></br>

<div align="right">
<a href='http://digg.com/submit?phase=2&url=<?php the_permalink() ?>&title=<?php the_title(); ?>&bodytext=StoryDescription&topic=videos_gaming'>Digg It</a>

&nbsp; | &nbsp; 

<a href="http://del.icio.us/post?url=<?php the_permalink() ?>&title=<?php the_title(); ?>">Add to Del.icio.us</a>

 &nbsp; | &nbsp; 

<a href="http://technorati.com/cosmos/search.html?url=<?php the_permalink() ?>">Add to Technorati</a>

 &nbsp; | &nbsp; 

<a href="http://reddit.com/submit?url=<?php the_permalink() ?>&title=<?php the_title(); ?>">Add to Reddit</a>

</div>

	</div>
	<!--
	<?php trackback_rdf(); ?>
	-->
</div>

<div class="comments-post">
<?php comments_template(); // Get comments.php template ?>
</div>

<?php endwhile; else: ?>
<p><?php _e('Sorry, no posts matched your criteria.'); ?></p>
<?php endif; ?>

<?php posts_nav_link(' — ', __('&laquo; Previous Page'), __('Next Page &raquo;')); ?>

</td>

<?php get_sidebar(); ?>

</tr>
</table>

<?php get_footer(); ?>