It depends on what kind of body alterations you are making for CDing purposes.

Hair Removal

If you are going to do a few laser or electrolysis sessions to reduce the beard growth, but not eliminate it completely, that is acceptable for a CDer. It gives you the best of both worlds. You can shave the beard easily when you want to CD, and let it grow back out when you want to be a male and have a beard.

You can wax the rest of your body, which causes the hair to disappear completely for a few weeks, and then to grow out even thinner. This makes it easier to pass as a woman, yet men wax these days too so if in male mode and you're hairless or with thin hair, no one will notice, because men can be hairless too.

Shaving, is tedious, and takes longer, is also an option. Especially if you only CD occasionally and want your beard or body hair back quickly, and it to grow back as it normally would for a male, this is your best option. If you wish to CD often, you may want to consider waxing and some laser/electrolosys, or be open to spending lots of time shaving.

The point is, it's easier to pass as a hairless man than it is to pass as a hairy woman. So hair removal options that give you the best of both worlds are the way to go if you're a CDer. Occasional CDers,who CD once per two weeks or less often, may just opt for shaving when the occasion comes. CDers who CD more frequently, such as twice per week or more, may want a more semi-permanent hair removal course of action.

Muscles

While you can't reduce your muscle mass by much, and the fact is that having a testosterone based body means you're going to have more muscle mass, you can make yourself appear to be less muscular. Simply eliminate all strength training exercises and playing sports, and stick to cardio exercise alone. Cardio will help you to stay in shape, lose weight or prevent weight gain, and will not build the bulging male muscles that weight lifting and sports do. Of course, this may be a bummer for those who actually enjoy strength training or playing sports, and you may have to resort to being more of a nerdy bookwormish male, but you can still pass as male being a nerd or a bookworm. Being a nerd or a bookworm (or properly, an intellectual) is gender independent. It is neither male nor female to be an intellectual, and both men and women can be intellectual.

Hormones and Surgeries

I would definitely not recommend a CDer to do HRT or get any surgeries. In fact, for a CDer to do HRT or get surgeries is harmful to your body. HRT and surgeries are meant if you're a TS and need to transition.

Quote Originally Posted by Isha View Post
However, unless the CDer in question is going to begin HRT the type of changes you are talking about are not possible.
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The best anyone can hope for is a lean athletic build but as a guy they are still going to have a guy's chest, shoulders, arms and legs
Unfortunately, Isha is right. Unless you're blessed with a feminine body, or at least some feminine features, you're stuck with a male body without HRT. However, hair removal and eliminating bulging muscles is possible. But you can't change your hip/shoulder ratio, or grow breasts, or soften the skin, or feminize the face or any other part of the body, without hormones. And I do not recommend hormones if you're a CDer. If you feel a need to feminize your body with hormones, I would strongly suggest seeing a gender specialist and find out why. Maybe you have deeper issues and could be a potential TS. If you and a gender specialist both agree that at least a mild dose of HRT is necessary for you, then you may do so. But please do not start HRT without consulting a doctor first.