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Learn how to replace translucency with a dithered mask.
Material graph screenshot: http://imgur.com/rESne5i
(sorry I forgot to discuss the 'vanishing' feature, which drives the opacity here :) I left a comment in the graph)
MORE INFO:
Article on how to implement dithering manually in a shader. Not for UE but the math is universal: https://www.digitalrune.com/Blog/Post...
Theory behind forward and deferred rendering: http://gamedevelopment.tutsplus.com/a...
Wikipedia on deferred rendering: https://en.wikipedia.org/wiki/Deferre...