Be advised, generally TVs aren't on hormones and are I'd say, basically crossdressers. They may be feminine of course, but they won't tend to be naturally hairless with smooth skin etc. And the breasts (if at all) will be chicken fillets. They won't have had 'corrective' surgery. In essence they are bisexual/gay men who like dressing up as a laydee and having sex 'behaving as a woman'.
Shemales are Transgender/transsexuals and are generally on female hormones, have higher voices and smoother, more hairless skin. The hormones mean they will actually grow some real breast tissue but normally have breast implants too, with possibly other surgical work done to 'feminise' them. They are the ones who identify as female full-time and see themselves as women, born in the wrong body (ie a man's). They may ultimately have the meat & two veg cut off and are working towards that, but not always.
I think I've got all that right! But it seems a pretty imprecise 'science' to me, and as is the modern way, anyone can be whatever they want and (often) make a big noise about it while they do so
