->''"I'll save you from the pirates."''

The gang stops in a village for supplies, although they are running dangerously low on money. However, while shopping, they come across interesting merchandise sold by rather questionable pirates- er, I mean, 'high risk traders'. Among their wares is an expensive water bending scroll, which Katara steals to help both herself and Aang learn water bending. To her annoyance, it seems Aang quickly surpasses her in the skill, and her jealousy begins to take control. Meanwhile, Iroh goes shopping for his missing Pai Sho piece, and Zuko catches wind that the pirates are after a familiar sounding trio, and so they join forces.

* BigDamnHeroes: Appa swoops in at the last second to save the trio from the waterfall.
* BreatherEpisode: A plot-significant episode which provides a break from the previous two-parter, especially with the darker "Jet" to follow.
* ButtMonkey: While Aang and Katara practice water-bending, Sokka gets to brush Appa's toes. And then he gets splashed by Aang's waterbending.
* CatchAFallingStar: Appa catching the heroes falling from the waterfall.
* ChaseScene: After Katara steals the scroll, the pirates chase the trio through the market.
* ChekhovsBoomerang:
** Aang's bison whistle.
** The horn Iroh buys.
* CrisisMakesPerfect: Katara struggles to perform the Water Whip move but when she is attacked by a pirate later, she executes it perfectly which sends the attacker overboard.
* FruitCart: The Cabbage Merchant's cart is once again a victim of a chase scene.
* FunnyBackgroundEvent: Iroh imitating the weird grin of the monkey statue while Zuko is first talking to the pirates.
* IceCreamKoan: Subverted
-->'''General Iroh:''' Are you so busy fighting, you cannot see your own ship has set sail?!\\
'''Prince Zuko:''' We have no time for your proverbs, uncle!\\
'''General Iroh:''' [[NotHyperbole It's no proverb!]]\\
''[Zuko and the pirate captain see the trio sailing away in the pirate ship.]''\\
'''General Iroh:''' Maybe it should be a proverb...
* InescapableNet: The pirates easily capture Aang with a net. Justified as [[LogicalWeakness the blast of air he tries to divert it with just passes through]].
* InevitableWaterfall: The reason our heroes don't get to keep the boat.
* InsistentTerminology: They're not pirates, they're "high risk traders."
* InstantExpert: To Katara's annoyance, Aang masters Waterbending very quickly.
* IronicEcho: After stealing the Waterbending Scroll, Katara comments that she prefers to think of it as "high risk trading."
* ItsAllMyFault: Katara says it after stealing the scroll leads to the trio getting captured.
-->'''Aang:''' No, Katara, it isn't.\\
'''Iroh:''' Yeah, it kind of is.
* LintValue: Aang tries to haggle for the waterbending scroll. He offers one copper piece. Then, okay, how about two copper pieces?
* MeaningfulBackgroundEvent: When the pirates storm en-masse out of their ship, Katara nervously edges backwards.
* MidflightWaterTouching: Momo the flying lemur gets chased by a carnivorous reptile-bird owned by the villain of the week. At one point during the chase, they fly low over a river, and each trails the tip of one wing in the water while doing a banked turn.
* MoodSwinger: Katara swings from flipping out at Aang's easy mastery of Waterbending, to sincerely, tearfully saying, "I'm so sorry, I don't know what came over me," to angrily declaring, "No more apologies!"
* MyGodWhatHaveIDone: After yelling at Aang and seeing him cry, Katara immediately feels bad for what she said and apologizes sincerely. Then she does the same for Momo, who had been whipped earlier by a failed water whip. And the look Sokka gives her after she yells at Aang clearly said "[[WhatTheHellHero What the heck is wrong with you]]?!"
* NiceJobBreakingItHero: Katara's late-night practicing (and angry muttering) is what alerts the pirates and Zuko to her location.
* PayEvilUntoEvil: Katara rationalizes that it was okay to steal the scroll since the pirates clearly already stole it themselves.
* PirateParrot: The pirate captain has a brightly-plumed reptile-bird as a ShoulderPet, which Sokka lists among the evidence that the "high risk traders" are really pirates.
* RecurringExtra: The Cabbage Merchant returns. He should've stayed in Omashu.
* ShipTease: It's widely agreed that this episode is when the concept of "Zutara" really took off.
* ShutUpAndSaveMe:
-->'''Aang:''' Hey, you did the Water Whip!\\
'''Katara:''' I couldn't have done it without your help!\\
'''Sokka:''' ''[being restrained by three pirates]'' Will you two quit congratulating each other and help me out?!
* SmokeBomb: Used by the pirates to distract the fire nation troops.
* SpoofAesop: The lesson is, "stealing is wrong... unless it's from pirates!"... which, if nothing else, refreshingly keeps the episode from being {{Anvilicious}}.
* StolenMacGuffinReveal: First it's Katara who reveals the scroll she has stolen from the Pirate ship and at the end it's Sokka revealing the scroll when everyone thought it was gone.
* TalkingYourWayOut: When Sokka and Aang are captured by the pirates, who are working Zuko in return for getting the waterbending scroll back, Sokka convinces the pirates that Aang, as the Avatar, is worth more than the scroll, causing a fight between Zuko and the pirates while the trio escape. Zukko sees what he's up to as soon as he starts talking, but is unable to persuade the pirates not to listen.
* TemptingFate:
-->''[Pirates throw a net over Aang and drag him away]''\\
'''Sokka:''' Oh, what? I'm not good enough to kidnap?\\
''[Pirates throw a net over Sokka and drag him away]''
* ThisIsNoTimeForKnitting: When the ship is about to go over the waterfall, Aang's response is to start blowing on the silent whistle he bought at the market. Sokka complains that this is no time for flute practise. It turns out the whistle is a buffalo call, summoning Appa to the rescue.