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You want both DHA and EPA in your Omega 3 apparently
The common advice is to take enough capsules to get you a daily intake 500 mg of both DHA and EPA respectively. It will say on the side of the bottle how much there is in each capsule.
Cheap cod liver oil often comes from factories in South America where lax routines mean the oil can go rancid in the time between harvesting and processing, so best avoided. Mind you, it's not like slapping a high price on something automatically makes it better.
I hear that there is quite the variance in quality between different brands - what have you used that works/worked?