You could just use query_posts within that if statement at the start of your loop, or you could use a custom loop for index.php and use it in there:

<? php query_posts('posts_per_page=1'); ?>

Here's my problem though, my index.php is for domain.com/blog and not domain.com. So if I change anything to the index.php file, it changes the blog page. Would I have to create a seperate php file for my home page or?

I have these pages made on wordpress

-Home (My "front page")
-Blog (Where My Blog Posts are set at on my settings)
-Services (Services Page)
-Portfolio (Portfolio Page)
-Contact (Contact Page)

Thanks. Basically I want exactly how @ChrisCoyier has his set up on his personal website's homepage and blog.

He has his latest post on the homepage AND a blog page for multiple posts.


I should mention I put my wordpress files in a folder called "wordpress" so I had to copy the index.php file (below) to my root directory.

<?php
/**
 * Front to the WordPress application. This file doesn't do anything, but loads
 * wp-blog-header.php which does and tells WordPress to load the theme.
 *
 * @package WordPress
 */

/**
 * Tells WordPress to load the WordPress theme and output it.
 *
 * @var bool
 */
define('WP_USE_THEMES', true);

/** Loads the WordPress Environment and Template */
require('./wordpress/wp-blog-header.php');
?>

ahh, what you need to do is the query posts as Johnny suggested and create a separate page for your homepage and your blog, page-slug.php, slug being the title of the page, created in wp admin, then have your index be a basic loop, with links to header and footers as index.php is mainly a fallback if there isn't any other pages for them to use, so if there isn't a single.php, or a page.php, they fall back to index.php. check out template hierarchy here:
http://codex.wordpress.org/Template_Hierarchy

that works also^^