I'd prefer to see you not try to skimp on pellet quality. Find some higher protein pellets such as the Purina Aquamax product, which will have a protein content of 40% or better. Better quality food means improved nutrients for the fish and less waste. This equals better long term water quality.
I personally have to go to the supplier of Aquamax and special request a smaller pellet size for little fish like this. They'll grow like crazy by next fall and may be able to eat a 1/4 inch size pellet by then, but in the meantime you should see how small of a size the supplier can get.
You should get floating pelleted feed so you can observe the quantity consumed. And of course it's fun to watch.
