trying a new training technique

I've decided to get back into the gym now after 1 yr break from physical activity (don't ask). I'm experimenting with a new training technique I read on the web. Basically It involves maxing for every exercise for 5 reps then resting for a minute then move to another muscle group. This is suppose to shave off a huge amount of training time because it stresses the muscle alot more. I don't have any gym buddies to consult that's why I came here to ask you guys, is this method okay to continue with or will it cause injury in the long term?

My stats:
5'7
140lbs
19 yrs old

Bench: 140 lbs (can't bench much due to joint injury)
lateral pull down: 190 lbs
deadlift: 200 lbs
 
Why not something basic like the following:

Monday

Squat 3x8

Tuesday

Chins 3x8

Wednesday

Bench 3x8

Do that for up to 6 weeks and you should see improvements so long as you keep increasing weight each week.
 
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