A trannie that lives as a woman, is very passable but does not want to get rid of her penis with sex reassignment surgery or hormones, but rather enjoys being "the best of both worlds" and all the sex that comes with it.
"Being a chick with a dick gets me twice as many sex partners and doubles my chances of getting laid "
A derogatory term used in reference to Transsexuals that are of a pre-op status. Very few transsexuals feel any sort of endearment to this term, most consider it highly offensive. Most commonly used in the porn industry for relating to the heterosexual male.
"wow, thats some hot 'chick with a dick' porn there man"