City's slim play off ambitions began to fade away in the last seven minutes of todays game at Borough Briggs.
Tade scored for the visitors Ridgers fumbled a cross after only 10 minutes but Nicholson's long-range shot crept in under Scott Black to level things just on the stroke of half time.
Zander Sutherland headed home for Elgin but after City hit the post, Stranraer broke away and Cochrane scored on 83. Elgin's disappointment was only compounded further when Andrew Gibson's 22-yard effort flew in for the winning goal on 87 minutes.
Elgin City: Ridgers, Nicolson, Dempsie, Hind, Niven, Mackay, Sutherland, Campbell, Shallicker, O'Donoghue, Frizzel. Subs Not Used: Gilbert, Crooks, Ross, Kaczan, Bowden.
Booked: Nicolson, Niven.
Goals: Nicholson 43, Sutherland 62.
Stranraer: Black, McKinstry, Creaney, Dobbins, Noble, Mitchell (McLaughlin 23), Gibson, White, Mullen (Cochrane 70), Gribben (McConalogue 77), Tade. Subs Not Used: Cashmore, Alan Ferguson.
Goals: Tade 10, Cochrane 83, Gibson 87.
Referee: D Somers.
All photos courtesy of The Lours aka Robert Crombie, Elgin City club photographer