Depending on your mixture of oils, it will take a long time to get to trace, up to 30 minutes. "Trace" for liquid soap looks pretty much like cold process. It's kind of ?pudding-like, or a blend of pudding and applesauce, with the characteristic "traces" and/or ridges when you dribble the soap back into the pot or stir. You can't really stir it too much, so it's best to make sure you've got a good solid trace before moving to the next step.