One year ago I wrote about the tracing mechanism of .Net, http://blogs.msdn.com/rido/archive/2004/05/07/LogsAndTraces.aspx.

Today I have wrote a Custom Trace Listener that allows you to rotate files based on date time, and takes care of the current path of the ASP.Net applications.

read on [http://blogs.msdn.com/rido/articles/FileRollerTraceListener.aspx]