I'm trying to get this validation rule on Opportunity to fire off whenever StageName = 'Decline to Bid' AND either Lost_Reason__c(Picklist) is blank OR Lost_Details__c(Text) is blank. In other words, Lost Reason and Lost Details must be filled in when the StageName changes to 'Decline to Bid'. Here's what I got so far:
AND( ISPICKVAL(StageName,'Decline to Bid'), ISBLANK(TEXT(Lost_Reason__c)), ISBLANK(Lost_Details__c) )
Any ideas what I'm doing wrong?
Edit: I tried the formula provided by Suri, not working. Made sure there're no blank spaces and no typos. The rule is active.