Ive seen the questions posted about this issue. I understand it takes several minutes for the emulator to configure itself and launch. But if Im getting the specific error
Valen answer is correct although its nice to know when to start running the app and when is not ok to start the app.Open the devices perspective. The next time you want to run an app first open the 'Android virtual device Manager' and run your avd then click on the device perspective and watch your emulator processes one by one firing up.. as soon this is done (its not fast you have to wait .. but at least you have some idea of whats going on .... a progress bar would be ideal for this place), click on your project and run as android app. On the devices perspective one more process will appear with the name of the package of your app. As soon as this happen your app is running on the device and it can be tested.