DECLARE @return_code INT;
DECLARE @TraceID INT;
DECLARE @maxfilesize BIGINT;
SET @maxfilesize = 5;
--step 1: create a new empty trace definition
EXEC sp_trace_create
                @traceid OUTPUT
               , @options = 2
               , @tracefile = N'd:\LongRunningQueries'
               , @maxfilesize = @maxfilesize
    , @stoptime =NULL
    , @filecount = 2;
-- step 2: add the events and columns
EXEC sp_trace_setevent
                @traceid = @TraceID
               , @eventid = 10 -- RPC:Completed
               , @columnid = 1 -- TextData
               , @on = 1;--include this column in trace

Msg 214, Level 16, State 3, Procedure sp_trace_setevent, Line 1
Procedure expects parameter '@on' of type 'bit'.

DECLARE @TraceID INT;