We all know that what goes in your fish is very important. But equally important is what comes out. To most people poop is just poop. But for your fish, poop is a valuable indicator of it's health. There for, it is a vital part of fish husbandry that you learn to "read poop".
A normal, healthy fish will usually supply a short, dark colored poop which falls to the floor of the tank after evacuation.
Poop that is long, thin, and the same color as the food that the fish eats means that the fish is stressed. Stress can come in many forms (bulling from other fish, poor water quality, ect.) so watch the fish closely and check your water parameters.
Poop which is thin and white (sometimes having the appearance of an empty sausage casing) indicates that the fish has an internal bacterial infection. In this case check your water quality and ensure pristine conditions. Feed the fish antibiotic medicated foods and if possible use injectable antibiotics where necessary.
Poop that is white, containing air bubbles means that the fish is constipated and that it's food is not being properly processed. This is common with fish that are fed low grade diets. In this case you should fast the fish for three to four days after which you would feed cooked, unsalted peas for three to four days. Also try feeding a more nutritious and varied diet after you finish feeding peas.
A fish that is producing clear poop that is crooked (or "zig zagged") and some times containing bubbles is usually a female fish who is absorbing unlaid eggs.
If the fish has long thick poop, the same color as the food it's been eating this means the fish is constipated but is processing the food that it consumes. In this case you only need to fast the fish for a few days to clear it's system. This form of constipation usually happens as a result of over feeding so it's a good idea to reduce the amount of food you give in each feeding.
Poop that is stringy and pale in color usually means that the fish has an infestation of internal parasites. In this case all that's needed is a medicated food or in-water treatment which kills the unwanted pests. Internal parasites are common among all fish so treating for such unwanted nasties sould be a routine part of quarantining any new fish.