Alice, I think I understand your dichotomy. Tell me if I am pretty close. You see the choices as either living as male, which you know you don't want, or living as a transsexual (somebody who may forever be labeled a freak). You see no happiness in the male life and you are avoiding transition because you do not want this stigma forever attached to you along with the loss you know you would likely endure. You would like a 3rd option, which is to simply be a female, but you don't see that happening, nor anyway to achieve that.
Why do I see this? Because I see the same dichotomy in my life and I know that living as male is not even an option. I'm 100% sure of that. However, I don't want all the bad things that go along with being TS either. I hate when I start contemplating this since I tend to get quite depressed and occasionally suicide. I feel like I was forced along this path (not by a person, but just by the condition), and that feeling of no good options can really get me down. However, when I am thinking logically, I know that I am actually happy with my life when I live more in the moment, rather than looking years ahead at an unknown and uncertain future.
Alice, I can honestly say that the good things in my life that I gained by transitioning far outweigh the bad things, but that's because transition was right for me. If it is right for you, it won't be as bad as it seems.