First, check if NetCrunch is listening on the correct port from the Tools->Options->General Options->SNMP Trap menu (by default it's 162).
Secondly, you need to configure an alert. You can configure an alert at the node level or at the map level or at the atlas. To set it up at the node level...
- right click on the node, select Alerting->Edit Node Alerting Policy
- click 'Add' button to add an event
- from the 'SNMP' tab, select 'Received SNMP Trap Event' option
- type a description. (Note: by leaving fields Generic Type, Community, Enterprise set to "any" this will receive all traps) (Note: by changing any of those fields, you will filter some traps)
- Click 'OK' twice when done
You've just defined the Event - now create the alert or action, to see the remainder of the steps see related article: Configuring an Alert or Configuring an Action