Parachromis managuense has a bad reputation, just like many of the other large predatory cichlids. This reputation is largely undeserved, and besides, the positive sides of these fishes more than make up for any negative ones. Not to mention that an adult P. managuense is incredibly beautiful.
I've kept these cichlids and have nothing but good to say about them as long as you have an aquarium large enough to handle this species that grows to 55 cm/22 inches. I would say that the absolute minimum to keep these cichlids together with other cichlids is a tank of 540 litres/120 gallons. And that's a minimum; a larger aquarium is preferable. Large specimens require even larger aquariums. They can be bred in aquariums that are at least 250 litres/55 gallons.
The aquarium should be decorated so that natural territory boundaries are created and so that there are a lot of hiding places for the female, as the male can be quite mean to her if she isn't ready to breed when he is. Larger rocks should be placed directly on the bottom of the aquarium since this species digs a lot and can move large stones. Use silica to glue caves and stone formations together so that they don't fall down.
This species hasn't got any bigger demands and thrives in most water conditions as long as pH and DH levels aren't too extreme in either direction.
P. managuense can be kept with other cichlids from the region as long as they aren't too small and can stand up for themselves. This is true for most cichlids species from Central America. P. managuense can be aggressive, but in my experience their aggressiveness is greatly exaggerated and P. managuense leaves most fishes alone. However, during breeding they will protect their young and their territory furiously, and since they are quite large they can claim large territories especially if normal boundaries aren't created in the aquarium. But I wish to stress that P. managuense normally isn't that aggressive and doesn't beat other fish to death. Just don't keep them with fish small enough to eat (except for Ancistrus which usually survive despite their small size).
Feeding P. managuense is easy and they accept just about any food. I recommend feeding them a diet of pellets, shrimps and fish bits. To vary the diet I sometimes feed them live feeders, usually convicts since it seems that one always have spare convicts one can't get rid of by selling or giving away. I usually feed my P. managuense twice a day with the occasional week without food.
Sexing P. managuense is usually easy and follows the line of most other cichlids. Females are smaller and rounder. Breeding P. managuense is according to my experience also easy as long as you give them their own aquarium. Breeding them in aquariums with other cichlids is harder, but not too hard. The biggest problem is deciding what to do with and how to raise the very large number of fry. Each spawning can generate up to 2000-3000 fry.
They are usually very good parents and the fry grow very fast. They guard their young for up to 6 weeks during which time the fry reach a size of 1.5 - 2 cm, or approximately