Be careful

You’re being watched.

This idiom or expression like sentence means:

Be careful.
You are under surveillance.

Also:
I’m watching you.
I’ll be watching you. Etc.

Wooden nickels

This idiom or expression means:

Fake money.
Fake anything.

When someone says “Don’t take any wooden nickels, they mean:

Be careful;
Don’t trust everybody;
Don’t get taken or fooled;
Be careful in your dealings with others; etc.

History: 
In the old days, wooden nickles were sometimes issued by businesses as a promotion and didn’t have a universally accepted monetary value. The warning above has now become an expression.
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