1. A computer-implemented method for tracing values of one or more method parameters, comprising: receiving a plurality of 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, at least one of the one or more specifications indicating a transformation to be applied to a plurality of resulting parameter values associated with at least one method of the one or more methods, wherein the transformation is processed by the virtual machine and comprises a chain of modifiers to transform the plurality of resulting parameter values from an initial type to a traceable type, wherein each modifier in the chain of modifiers defining a suitable input type, and wherein two or more of the plurality of specifications are directed to same one or more method's same one or more parameters to be traced, wherein the modifiers of the respective two or more specifications generate a respective resulting parameter value; executing an application, the application calling a method of the one or more methods using the virtual machine; determining, by the virtual machine, during execution of the application a subset of the two 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 comprising values of the one or more parameters, the values comprising at least one modified value based on the transformation and the values comprising at least one modified value based on the transformation and the values generated by combining the respective resulting parameter values transformed by the two or more specifications operating on the same parameter; and reporting the entry event.