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Formula field not working

I am trying to mark a date when picklist value is changed to a certain value to that date.

IF(ISPICKVAL(Application_Status__c , "Accept"), TODAY(), NULL)

but issue is since the formula is evaluating to true daily it is changing this date field to today that is if I change to Accept today the date is today tomorrow it is changing to 18th and day after it is changing back to 19th instead I want it to be 17th. Can some one guide me. 

we dont have ISchanged function in formulas
Jerome LusinchiJerome Lusinchi

Use workflow instead of formula.

Shashikant SharmaShashikant Sharma
You could not achieve it via formula field as formula field can not derive change in value as it is evauated only at the time field is accessed.

You have to use a workflow or a trigger to get a Date field populated.