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Often it's hard to notice the new vector image because it's right on top of the raster image - especially if you used a single trace option (but sometimes with other options as well).
Try clicking on it, and check the status bar. If the status bar say "Path...." or "Group of...." that's your trace result. You can just drag it away from the raster image.
It the status bar says "Image...." then either you didn't select the new paths, or something went wrong, and there aren't any. If that happens, try a couple more times, and make sure your mouse is over the black or colored part of the image (not over white or transparent area).
If you can't find it, please share your SVG file with us, along with all the options you used (possibly a screenshot of the Trace Bitmap dialog).
