I've tried to run the command telnet localhost 5554 in the command line, but I didn't succeed. It kept saying telnet is recognized as an internal or external command....
The directory is set to where my Android SDK tools are installed (C:\Program Files\Android\android-sdk\tools). Maybe this path is not correct but I don't know how to fix this. I have changed the path to other but no success.
If you're on Windows 7, telnet is not enabled by default. This site has step-by-step instructions for turning it on. Once you do that, you should be able to telnet into the emulator.