I think this is a really good idea.
I’d just add something I like to do is look at anything that’s increased in value significantly (especially if it has exceeded my original price target) and decide based on the new information is it worth that much more. If I don’t think it’s a buy at its current price, I should probably get rid. The company could still be great (perhaps even better even than when I first bought) but that doesn’t matter if the price is wrong.