I am doing this based on my memory:
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When you add a new parameter to an item, a new screen will be prompted to you.......and you can add stuff like effect on who (e.g. pre-target, self), and effect when (e.g. while equiped, permenant ... etc), there should be couple of buttons at the bottom of that box. If you click one of them that says something like "edit parameters" you will get a second window. The window will let you set more specific parameters like what kind of damage (fire, cold, magic fire ... etc) or other things depending on the nature of the parameter (like special affecting specific enemy types, like golem and stuff), the other box at this 2nd screen tells you what magnitude of the effect and stuff.
There!! Clear as mud?
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Long live H22A1!!!!!