First of all, I'm a total newbie to all of this stuff and I was pushed into it.
Acording to these two topics: Starting the Android emulator in SDK tools, revision 12, and Invalid command line parameter when Android executes the solution to "invalid command line parameter when android execution" problem is adjusting the spaces in the path, but I don't know how.
I have Windows 7, Eclipse IDE for Parallel Application Developers with ADT Plugin.
The path to emulator.exe is: C:\Program Files (x86)\Android\android-sdk\tools