It's best to feed young fish a few times a day. Small, frequent feedings with good water changes will go a long way in getting the maximum growth out of your fish. I usually cut back to once or twice a day after the fish hit a year old or so.
I use Hikari Pellets for all my cichlids... even my cat fish love them. This morning I tried for the first time Omeda One pellets with my small cichlids I just got... they seem to like them. As for blood worms and brine shrimp... I would feed them that stuff every other couple of days. Use the pellets as a staple. Mix in some veggies too.