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Faulkner was born in Manly, Australia, the son of inventor and actor John Faulkner and the Scottish ballerina Sheila Whytock, who had danced in Diaghilev's company in London and with Anna Pavlova in South America. He was dubbed “Trader” after being caught stealing his father's illicit bathtub whiskey with his schoolmates to exchange for marbles.

Resident in the UK since 1950, Trader enjoyed a long theatre and TV acting career. He was a student and protégé of Peter Finch and worked with many great stage actors of the twentieth century, including John Gielgud, Vivien Leigh, Laurence Olivier, Paul Scofield, and Anthony Quayle.

A renowned Flamenco expert, Trader established his own flamenco company and took lessons in Seville from Enrique El Cojo, the celebrated flamenco maestro. He also wrote, choreographed and performed in his own tribute to the Spanish poet Federico Garcia Lorca, and a result of his translating and performing efforts to the works of various notable Spanish playwrights as well as Lorca to British audiences, Trader was awarded the Royal Spanish Order of Merit by King Juan Carlos.