Metal magnetic memory (MMM) testing technique is a novel testing method which can early test stress concentration status of ferromagnetic components. Under the different maximum tensile stress, the relationship between the leakage magnetic field of at certain point of cold rolled steel specimen and the tensile stress was measured during the process of loading and unloading by repeated. It shows that when the maximum tensile stress is less than 610MPa, the relationship between the magnetic induction intensity and the stress is linear; When the maximum tensile stress increase from 610MPa to 653MPa of yield point, the relationship between the magnetic induction intensity and the tensile becomes bending line. The location of the extreme point of the bending line will move rapidly from the position of smaller stress to the larger stress position, and the variation of magnetic induction intensity increases rapidly. When the maximum tensile stress is greater than the 653MPa of yield point, the variation of the magnetic induction intensity remains large, and the position of the extreme point moves very little. In theoretical aspects, tensile stress is to be divided into ordered stress and disordered stress. In the stage of elastic stress, a microscopic model of the order stress magnetization is established, and the conclusions are in good agreement with the experimental data. In the plastic deformation stage, a microscopic model of disordered stress magnetization is established, and the conclusions are in good agreement with the experimental data, too. The research results can provide reference for the accurate quantitative detection and evaluation of metal magnetic memory testing technology.