To configure it,
Go to Settings – Administration – System Settings
Here we have selected “All” for enable tracing and registered a sample plugin which only writes trace.
Now perform the event that will trigger the plugin.
Go to Settings – Plugin Trace Logs
Open the Trace Log record
In case of enable logging set as Off no trace log records will be created and in case of Exception only when exception occurs trace log record is created.
“Trace logs older than 24 hours are deleted by Bulk Deletion background job”
Hope it helps..