Nope - you're not a shiat parent. I believe the same as you do. I raised mine to make the right choices and only when he made a stupid choice, got caught and ended up on the "wrong side" (which, in his case, was not all that bad in hindsight!) he faced the wrath of mummy dearest. It wasn't all that many times, either. I never had a phone tracker or a GPS for the car. He had a fair amount of leeway from me - and while I always trusted - I always also verified. He was a good kid and a pretty darn good teenager. AND, he's a great adult, now.
Sounds like my parents. Don't F up and you have nothing to worry about. F up and you will pay dearly.