Combat while Mounted: With a DC 5 Ride check, you can guide your mount with your knees so as to use both hands to attack or defend yourself. This is a free action.
When you attack a creature smaller than your mount that is on foot, you get the +1 bonus on melee attacks for being on higher ground. If your mount moves more than 5 feet, you can only make a single melee attack. Essentially, you have to wait until the mount gets to your enemy before attacking, so you can’t make a full attack. Even at your mount’s full speed, you don’t take any penalty on melee attacks while mounted.