The process will be a little different depending on the application that you are using.
The image should now be traced. If something didn't come out quite right, you can use Control-Z or Command-Z to step back and remove the trace. You can change the trace setting by opening the Tracing Control Panel: Select Window > Image Trace. You can also use the other tools in Illustrator to make edits to the drawing.
If something doesn't come out quite right, use Control-Z or Command-Z to step back and try again.