Oh yeah, we miss a lot, however it is really pronounced from horseback, because of the short engagement window, the rather awkward angle and the not always optimal camera angle and the fact that the weapons tip not always visible, especially for polearms so you have to guess a lot. You would want to use a weapon with a longer reach when fighting enemies on foot.
Generally it is authentic, but it can be unnerving. I thought some sort of visual hint where the pointy bit of my polearm is at the moment would help. It is a balance issue, too, so that cavalry is not so overpowered in melee.