You have not given enough info to answer this question. In particular, we would need to know the following:

1.) How much sun is the plant getting?

2.) Is this being grown inside/outside?

3.) Do you feed it and if so, what?

4.) What kind of soil is it in?

5.) Why is the soil dry? -this time of year, it should be moist. I water my outside, containerized ones every day now, and the ones in the ground get hosed down a few times per week now that we are in a degree of drought.

6.) What are temps like?--Trachys do slow down if not stop in very high heat.

7.) If it is in a pot does it need a larger container?

Also, try to post a picture if you can.

Plant it in the ground?

Full sun, outside, miracle for shake n feed for palms, soil: miracle grow moisture control, it doesn't need a larger container, I think the 95 and higher degree days may have played a role in this then, I try and water it once everyday (I just don't like watering too much because I get water happy and then water too much. I've lost many palms from root rot. I will try to post a pic.

Definitely post a pic, that would help a lot! Trachys seem to grow VERY slow in pots. I got a seedling in 2007 and it's still in the original container (definitely needs to be repotted, but I like the fact that it's not too big). It's a slow grower although in recent years it has been growing faster for whatever reason.
Sounds like your doing everything right. I usually water my potted palms once a day in the summer time but I do skip some days without any ill effects.
Hope it survives!
-Alex

A Few my Newest windmill Palms are starting to Turn yellow am not sure why I think its older leaves but it has not been Really Pushing out leaves as it used too. I Would put a Photo up but I have Dorid X2 so I been Haveing Problems with it.