1. A method for dynamically adjusting trace buffer capacity based on execution history, said method comprising the steps of: receiving, by a first module configured to trace, a plurality of traces pertaining to one or more trace events generated during execution of a program being traced, said one or more trace events generated including panel data and sequence data; determining, using trace data captured from said plurality of traces received, whether or not a path for a trace event of said one or more trace events is a new path; and if said path for said trace event is determined to be said new path, dynamically adjusting by said first module an initial size of a trace buffer configured to store said trace data captured, wherein said first module increases said initial size of said trace buffer when said first module makes a determination that said trace event of said one or more trace events is said new trace event based on execution history of said program being traced.