Alternatively, you can use ZSH and not lose history, even better, have history work simultaneously in multiple terminal windows simultaneously without closing the window to save/read the history of other windows. http://ohmyz.sh/
# share history among terminals
setopt share_history
# append to the history instead of overwriting
setopt append_history
# append to history incrementally instead of when the shell exits
setopt inc_append_history
Look ma, no more lost history!