Serverside tracing is recommended over the SQL Profiler GUI.

In the profiler you can go to "Export" -> "trace definition". With that script, and a few minor adjustments, you can start the serverside trace.

If you want to use the SQL Profiler GUI, you can adjust a Windows setting (TEMP), as per

http://msdn.microsoft.com/en-us/library/ms174203(v=SQL.100).aspx