Water Baptism or Holy Baptism?

Why not both?

Must one be Baptized in water to be saved through Faith?

ACTS 22:29 KJV

Some believe that this statement teaches baptismal regeneration, that baptism is required for salvation. Several factors must be considered.

(1) The historical narrative of Paul’s conversion in chapter 9 shows that he was saved and filled with the Holy Spirit before his baptism.

(2) The same is true of Cornelius’s conversion in chapter 10. He was clearly saved and baptized with the Spirit before he was “baptized” in water (10:47).

(3) More importantly, one must listen to Paul’s teaching on this subject. Regeneration, not water baptism, washes away our “sins” (Titus 3:5). In fact, Paul helps us to see more properly the relation of baptism to regeneration by minimizing baptism (1 Cor. 1:14-17).

(4) The other apostles agree with these teachings. The redeeming blood of Christ washes away our sins (1 Pet. 3:21; 1 John 1:7; Rev. 1:5).

(5) The means by which sins are washed away is indicated by the participle “calling on.” The verse may then be rendered, “Be baptized, and wash away thy sins by calling on the name of the Lord.”

Water baptism is an outward action symbolizing what regeneration has already accomplished in the Christian’s life.

Paul again here, mentions the baptism of repentance, because the Jews understand that type of baptism. They will not fuss at the name of the Lord, because all through Moses' writings God is spoken of as Lord.

Verses 22:30 – 23:10: Paul’s second of 6 defenses. (Verses 1-21; 24:10-21; 25:1-12; 26:1-29; 28:17-29).

ACTS 22:30 KJV 

Acts 22:30

 "On the morrow, because he would have known the certainty wherefore he was accused of the Jews, he loosed him from [his] bands, and commanded the chief priests and all their council to appear, and brought Paul down, and set him before them."

“Chief priests and all their council”: He convened an unofficial meeting of the Sanhedrin (see notes on 4:15, 23).

The mob has been disbanded, the beating of Paul stopped, and even the chains have been removed. This chief captain sends for the rulers of the temple to come and tell him exactly what charges they have against Paul. This chief captain wants to quickly get this out of his hands. The scene is set. Paul is before them to be questioned.

Let us go back now and review what these charges are, before we get into chapter 23. The only charges they have brought against him is that they say he has taught both Jew and Gentile that they are not to keep the law of Moses anymore, and that circumcision of the men is no longer to be done. Paul has been teaching that Christianity does not require these outward shows of faith.

Perhaps, one confusing thing to them, and to us, is if Paul teaches this, why is he observing feasts, circumcising Peter, taking a Nazarite vow, and sacrificing in the temple?
The only explanation is that he is doing these outward things to satisfy the Jews, so they will allow him to teach in the temple and in the synagogues.