OK I found this post online on how to fix my problem.
How to use Read More in Pages
Please remember that the "Read More" tag is used only on the Home page which shows the latest posts. It does not work in "Pages". If you want to turn it on in Pages too for showing a set of partial posts, use the following code inside the loop for the dynamic content:
<?php the_content('Read the full article...'); ?>
$more = 0;
the_content('Read the full article...');
But I need to know where am I placing this code? What page do I edit? Remember this is on a page now the index page.