Possible ? You mean people do it another way ?http://www.guru3d.com/article/core-i7-3770k-and-3750-review-with-z77/13
The procedure is as follows:
1. Leave baseclock for what it is right now
2. If optional, increase the TDP limit of your processor to 200~250 Watts
3. With a 3770K leave your base multiplier at 35
4. And now set the per core (Turbo) multiplier at a maximum of your liking, we applied an MP of 49 on all four cores
5. Increase CPU voltage, though setting AUTO might work fine, we applied 1.40V on this intel board.
6. Make sure your processor is properly cooled (we used a Noctua D12 heatpipe cooler and forced the fan to 60% RPM)
7. Save and Exit BIOS / UEFI
It's possible to OC with both the Turbo multi's AND a main multi (with my board, at least). I have Turbo disabled, yet I still have a 4.5 OC on my 2500K, so yes, people do it another way... Maybe it's different for some mobo's (or even Z77), but just stating that there ARE two ways with some.