You can enable the Java Console in the Java Control Panel. This gives you not as much as you ask for as there is no default logging and tracing. It is primarily for those needing to do simple investigations.
If you need to investigate an actual problem, a good debug session allows you to set breakpoints on the points you need to investigate, a good decompiler allows you to see the reconstructed code, and a profiler allows you to pinpoint where the bottlenecks are. The jvisualvm tool in the JDK is very powerful, contains a profiler and worth learning well.
I use jvisualvm with Eclipse with the jadclipse decompiler plugin, and that is quite helpful.