[obex]

I generally think it's a bad idea to play hands like QJs on the third hand of the tournament from any position. Drawing hands do not play well with no-limit. It's a pretty loose call you made, especially without position.
The flop did not hit you. AQ, any K, JT, all dominate you. You have mid-pair, a 2nd best flush draw (that you're not getting odds for with his $150 bet), and a gutshot straight draw that is counterfeited by any J. If you're determined to play here you have to bet the flop as a semibluff.
The turn card is not good for you. Any T has a straight. His betting into you $400 makes one think he has more that top pair - either a better two pair than you, or a straight.

This is an easy fold for me preflop. Drawing hands, especially this early are usually trouble. Chasing hands in no limit is usually trouble.