this works, like bitter aspects said you will need two more tanks or containers to breed and raise the fry. I do this is honduran red points which are very similar to convicts but a bit more appealing in my opinion. doing this is much healthier for the fish eating feeders, as they are much cleaner than feeders from a store which are usually comet goldfish, these are fatty and not nutritionally healthy for most predator fish. one thing you will prob notice is that convict fry can better hold their own. now they arent going to cause any harm to your fish eating them, but your fish may just have to put some more effort towards catching them if they are used to comet feeders. but good luck, it is a good choice, cheaper and better for your fish.