It is parameterized by the parameter that appears in the parametric equations given to you !
It is often the case that there is a natural way to define a curve, be it from its geometric definition or from a convenient coordinate system, and the parameter stands out.
In the case of trajectories, it can be time.
Let's take the case of Viviani's curve: the intersection of a sphere and a cylindre of half the diameter, tangent to it.
In Cartesian coordinates, we have an implicit system of equations
$$\begin{cases}x^2+y^2+z^2=4,\\(x-1)+y^2=1.\end{cases}$$
Then letting $x-1=\cos t,y=\sin t$ by educated guess, we have
$$z=\pm\sqrt{4-x^2-y^2}=\pm\sqrt{2-2\cos t}=2\sin\frac t2.$$