What is Gender Queer? What makes it so different from Transgender?

There is this show on Logo called Translation. This show follows the stories of young individuals who "identify" themselves as genderqueer. Much like the coming out process for gay or bi, it's a process that entails fear of rejection and disappointment.

Is gender queer really just feeling like you're neither boy or girl? Or does it mean you were born in the wrong body, but are ok as you are and don't need to transition?
At what point should you identify as "transgender"?

Transgender means you were born one gender, but you identify as the other.

Gender Queer refers to those that don't feel like they are one or the other and don't want to say they are either/or.