Traditional sketching aids rely on the physical production of templates or stencils which is particularly problematic in the case of larger formats. One possible solution is 2D virtual tracing using a virtual template to create a physical sketch. This paper evaluates a mobile phone as a 2D virtual tracing tool by comparing three tracing methods: (i) a traditional tracing method with a printed template, (ii) a virtual tracing method Static Peephole (SP) in which the virtual template is manually adjusted to a physical contour by drag and pinch gestures, and (iii) a virtual tracing method augmented reality Magic Lens (ML) in which template is projected on the physical object such as paper hence navigation is possible through physical movement of the mobile device. The results show that it is possible to use mobile phones for virtual tracing, however, ML only achieved comparable performance to SP mode and traditional methods continued to be quicker and preferred by users.