An attempt has been made to study and analyze the performance of a magnetic fluid based infinitely long parallel rough surface bearing. A comparison has been made with two different forms of the magnitude of the magnetic field. The stochastic model of Christensen and Tonder has been used to account for the effect of surface roughness, considering a different type of probability distribution function. The concerned stochastically averaged Reynolds type equation is solved with suitable boundary conditions to obtain the pressure distribution leading to the calculation of the load carrying capacity. Further, the expressions for volume flow rate and response time are derived. The graphical representations make it clear that the adverse effect of porosity and roughness can be minimized by the positive effect of magnetization particularly, in the case of negatively skewed roughness. However, this compensation is found to be more when the magnitude of the magnetic field is described by a trigonometric function. This investigation establishes that the bearing system sustains certain amount of load even in the absence of flow which does not happen in the case of conventional fluid based bearing system. It is found that the volume flow rate is comparatively augmented in the case of trigonometrical form as compared to the algebraic form of the magnitude of the magnetic field. It is appealing to note that the response time does not change for both the forms of magnitude of the magnetic field.