My tools are all held on the stand of my lathe with two magnetic holders that are normally used for hanging wrenches on a wall or so. So far, I have not had any problem, and I do this for years. On the other hand, my tool rests are stainless steel, so there is no problem; and when I hold my tools to the lathe ways, I feel only the slightest holding power, which I would not have problem with turning on normal steel tool rest.