Why does my vagina leak watery stuff like pee but it's not pee and it has a bad odor ?

Can you describe it better? How old are you?

Your vagina is a self-cleaning organ. Your body does this by constantly secreting fluids into your vagina canal and it works it way down. Normally it isn't a lot, clear and might be tinted slightly yellow, relatively odorless, and fluid. When any one of those changes, then there is something wrong. Your reproductive tract can only do so much and is overwhelmed on occasion; usually when your immune system is compromised or there is uncontrolable growth. One of the most common is a yeast infection, which will produce a thicker white discharge that is chunky and smelly. Bacterial Vaganosis is another one where a bacteria, not yeast, will grow uncontrolled in your reproductive tract. There are more, but let's move along shall we?

Regardless of the above, if it is concerning you, and it is apparent that it is because you posted the question, you should go see your doctor about it. This is true for almost everything in your life medically related. If you don't know or are concerned, book an appointment.