I actually tried something like this a while ago (maybe a year?) ...I had written the word "DREAM" on my hand for a couple of weeks and tried to train myself to look at it and read it all the time. Only problem was, I would look at it sometimes while in a dream and it would be a little scrambled or look something 'like' the word DREAM, and of course my brain would trick me into assuming this occurrence to be logical.

I have only known about the nose pinch method for about a week now and became lucid for a short moment last night. I think I like that method much better And, my nose isn't going to go anywhere any time soon (I hope!), whereas ink on skin/hand gets annoying.