To not even get someone attempting to pickpocket you in the first place, it may be a good idea to hide your wallet, jewelry, and camera. Even if your jewelry does not cost that much, you should still hide it because a common pickpocket may not know any better. Some thieves are less subtle than pickpockets and just take the jewelry and run (even if its a piercing, ouch!).
A safe traveler is a modest traveler. Not only will this not attract pickpockets, but it will make you lighter on your feet.