In this paper, two beginning qualitative researchers describe the challenges and successes of conducting a collaborative self-study. For two academic years, the authors wrote and analyzed personal narratives related to their experiences as a lesbian and a gay man, respectively, in educational contexts. This article addresses the data analysis phase of the research process. The authors attempt to make visible their analytic process in hopes that their struggles might be useful to those who conduct similar research. They rely on the metaphor of waves to capture what it was like to engage in their analytic work. Their experience demonstrates the importance of viewing data analysis as a fluid process that involves reflexivity, perseverance, and flexibility. (Contains 2 figures and 1 footnote.)