Yes. Cut off the dead leaves... your plant will send most of it's energy to the dying ones to try to save them, weakening the rest of the leaves.
If you are only dosing a liquid fertalizer, the could be one factor in it dying. Swords are huge root feeders, and really need root tabs, or nutrient rich substrate to thrive. I would suggest that you get some tabs and put one in as close to the plant as possible.
What size is your tank? I have a feeling that the light may not be sufficient. Red plants need lots of light to thrive.