1. A computer-implemented method for tracing values of one or more method parameters, comprising: receiving one or more specifications at a virtual machine that is executed using one or more processors, each specification indicating one or more methods and one or more parameters to be traced, the one or more parameters corresponding to the one or more methods; executing an application, the application calling a method of the one or more methods using the virtual machine; determining a subset of the one or more received specifications, the subset corresponding to specifications that are applicable to the method; generating an entry event corresponding to the method based on the subset, the entry event comprising event data including values of the one or more parameters; and reporting the entry event.