The monitoring of one’s actions is essential for goal-directed behaviour. The underlying neural mechanisms are not well-understood, because ecological situations require continuous monitoring of actions, which has not been in the focus of research in the field. We delineate the neurophysiological principles of continuous action monitoring and show that superior parietal and frontal cortices play distinct functional roles in it. Parietal cortices are central for initial resource allocation processes and also for the oscillatory dynamics during pursuit tracking. In particular, beta band activity is essential, likely reflecting maintenance of sensorimotor programs maintenance and their adjustment. Theta and alpha bands support these processes through attentional sampling and gating of information, respectively. Crucially, the function and importance of these activities changes depending on the period during tracking. Processes reflected by alpha and beta band activity are mostly relevant during the initial period of tracking in which sensorimotor calibrations are particularly intense. Theta band activity is relevant during all periods, but shifts from parietal cortices in the initial tracking period to frontal cortices in later tracking periods, likely reflecting a shift in the functional relevance from intensified attentional sampling to intermittent performance monitoring processes. The study closes a critical gap in knowledge on how neural processes subserve continuous action monitoring, which has emerged through the predominant reliance on experimental approaches imposing short-lasting and regularly re-instating monitoring demands.